Vallourec: Q3 sales down 32%
(CercleFinance.com) - Vallourec's Q3 gross operating income came in at 71 million euros compared to 84 million euros in Q3 2019, a result that it says is "strong", despite the unprecedented decline in the oil and gas market.
Meanwhile, sales reached 716 million euros, down 32% y-o-y and down 22% at constant exchange rates.
At the bottom line, it made a loss of 69 million euros, 15% worse than the 60 million euros loss posted a year ago.
Vallourec says that it has begun financial restructuring to significantly reduce its debt and interest expenses.
The company confirms its outlook for 2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Meanwhile, sales reached 716 million euros, down 32% y-o-y and down 22% at constant exchange rates.
At the bottom line, it made a loss of 69 million euros, 15% worse than the 60 million euros loss posted a year ago.
Vallourec says that it has begun financial restructuring to significantly reduce its debt and interest expenses.
The company confirms its outlook for 2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.