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Vallourec: confirms targets for 2019

(CercleFinance.com) - On Thursday evening Vallourec announced Q3 2019 sales of 1.
06 billion euros, up 10% y-o-y as reported, and up 7% at constant exchange rates.

Over the first nine months of 2019, the group posted sales of 3.169 billion euros, up 13% compared to the first nine months of 2018.

The group's net loss, group share, was 60 million euros in the third quarter, compared with a loss of 92 million euros in Q3 2018. Over 9 months, the loss was 227 million euros, compared with a loss of loss of 399 million euros for the same period in 2018.

"Based on current economic and market trends, the Group confirms its full year targets: A strong increase in EBITDA with the EBITDA generation achieved in the first semester confirmed in the second one. A continuous improvement in working capital requirement, with a diminishing number of days on a quarterly average basis. Capex around E180m," Vallourec said regarding its outlook.


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