Vallourec: cuts 9m loss to 373 million euros.
(CercleFinance.com) - Vallourec reported Q3 2017 turnover of 964 million euros, up 39.
1% y-o-y (+43.1% at constant exchange rates). Turnover is up 29.4% on a like-for-like basis.
Over the first nine months 2017, the group recorded turnover of 2,680 million euros, up 26.0% y-o-y (+23.5% at constant exchange rates).
The net result, group share came in at a loss of 119 million euros in Q3, against a loss of 160 million euros to Q3 2016. Over the first 9 months of 2017, Vallourec's loss reached 373 million euros, against a loss of 575 million euros over the first nine months of 2016.
Vallourec has upgraded its target for FY 2017 EBITDA, which should now be between -30 million and -10 million euros: the target for the
group's Q4 2017 operating result is now between -20 million euros and break-even, due to market trends in the United States and prices of raw materials, the group said.
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