Vallourec : Confirmed acceleration in the recovery – top-quality numbers
>Q1 2019 earnings release - Vallourec’s Q1 2019 figures beat our expectations. Sales came in at € 1.025bn (€ 917.8m estimated) vs € 862m, an increase of 19% and 17% on constant currencies. EBITDA, meanwhile, amounted to € 67m (€ 47.6m estimated) vs -€ 5m, confirming the return to positive EBITDA for the fourth quarter in a row. The EBITDA margin thus came in at 6.5% (vs -0.6%). Underlying operating profit came to -€ 19m (-€ 42.4m estimated) vs -€ 130m, a sharp improve...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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