France-based pipe manufacturer Vallourec has announced its financial results for the fourth quarter and the full year of 2019.
Vallourec’s sales revenue increased by six percent to €4.17 billion in 2019, compared to €3.9 billion in 2018, while its sales revenue in the fourth quarter of the year declined by ten percent to €1.0 billion, year on year. The company’s net loss in 2019 amounted to €338 million, compared to €502 million in the previous year, while the net loss in the fourth quarter of last year was €111 million, compared to a net loss of €103 million in the fourth quarter of 2018.
In the given year, the company’s sales volume fell by three percent to 2.29 million mt, down from 2.36 million mt in 2018. In the fourth quarter, the sales volume was down by 25 percent year on year to 520,000 mt.
Vallourec reported EBITDA of €347 million in 2019, compared to €150 million in the previous year, while the company said EBITDA in the fourth quarter was €94 million, up from €89 million in the fourth quarter of 2018.
In 2020, Vallourec expects €500 million EBITDA, supported by economic and market trends and slightly positive free cash flow.