France-based pipe manufacturer Vallourec has announced its financial results for the first nine months of the current year.
In the given period, Vallourec reported a net loss of €575 million, compared to a net loss of €439 million in the corresponding period of the previous year. Vallourec's sales revenues in the same period amounted to €2.12 billion, falling 27.7 percent year on year, while it registered an operating loss of €561 million, compared to an operating loss of €393 million in the same period of 2015.
In the first nine months of the current year, the company's sales volume amounted to 905 million mt, declining by 17 percent compared to the corresponding period of the previous year.
For the full year of 2016, Vallourec expects it EBITDA to be lower than in 2015. The company also expects its oil and gas deliveries and results to still be impacted by mixed market conditions in the next quarters.