Vallourec’s sales revenues down 22 percent in 2016

Thursday, 23 February 2017 15:52:21 (GMT+3)   |   Istanbul
       

France-based pipe manufacturer Vallourec has announced its financial results for 2016.
 
In 2016, Vallourec reported a net loss of €758 million, compared to a net loss of €865 million in the previous year. Vallourec's sales revenues in the same year amounted to €2.96 billion, falling 22 percent year on year, while it registered an operating loss of €749 million, compared to an operating loss of €838 million in 2015.
 
In 2016, the company's sales volume amounted to 1.28 million mt, declining by 9.2 percent compared to the previous year.
 
Vallourec stated that in 2016 it significantly reshaped its industrial footprint by creating two new competitive production hubs in Brazil and China and by drastically downsizing its European capacities which now represent 23 percent of the group’s rolling capacity versus 46 percent in 2014. The company also stated that its mid-term outlook depends on the timing of the global oil and gas market recovery which still remains unclear.

Similar articles

US mechanical tubing imports up 17.6 percent in January

18 Mar | Steel News

US rig count increases while Canadian count drops

15 Mar | Steel News

Liberty Pipes Hartlepool to supply line pipes for energy infrastructure development project

15 Mar | Steel News

Turkey’s Borusan Boru begins trial production at assets in Romania and US

15 Mar | Steel News

Mexico maintains AD duties on seamless steel pipe imports from four countries

14 Mar | Steel News

Local Chinese steel pipe prices follow downward trend

14 Mar | Tube and Pipe

US assigns zero preliminary dumping margin for circular welded pipe from Thailand

14 Mar | Steel News

Turkey’s Erciyas Çelik Boru’s sales revenues up 134.8% in 2023

13 Mar | Steel News

Chinese steel pipe export offer prices move down further

13 Mar | Tube and Pipe

ArcelorMittal buys stake in France’s Vallourec

13 Mar | Steel News