Vallourec : A bet on a recovery that was well under way, before COVID-19
>Refinancing on hold - Reasons for hope? In a very challenging environment, the group will be more particularly affected by its exposure to North America (36% of sales, i.e. 24% of consolidated sales). Nonetheless, we note the group’s relatively good performance in Q1, with EBITDA flat (€ 68m vs € 67m) despite a drop of 17% in sales (-15% in organic terms), 18% for oil & gas sales and 20% for sales in North America. Despite the marked deterioration in prospect, the g...Vallourec is a holding company. Through its subsidiaries, Co. supplies tubular solutions, mainly for the energy markets as well as other industrial applications. Co.'s activities can be divided into two segments: the Seamless tubes segment (production of hot-rolled seamless carbon and alloy steel tubes, both smooth and threaded, for the oil and gas industry); and the Speciality Products segment (production of stainless steel and titanium tubes as well as specific forming and machining activities). Co. is organized into four divisions: Energy and Industry division; Oil Country Tubular Goods division; Drilling Products division; and Brazil division.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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