Vallourec : Feedback from road show: stars align for profitability and FCF generation, earnings forecasts underpinned
>A reassuring message - Following a road show with management (CEO, CFO and IR team), our conviction on the group’s equity story was underpinned. The plan presented and rolled out three years ago (February 2016) enabled the group to deliver results ahead of expectations on the cost cutting front (€ 445m vs € 400m expected by 2020). Additional measures were announced. Recent results confirm i/ a sequential pick-up in results, ii/ a turning point with an anticipated dro...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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