Vallourec : Ne pas céder à la panique !
Vallourec a publié des résultats décevants au T3 2018, marqués par un EBITDA en dessous des attentes et surtout une consommation de FCF significative. Dans ce contexte le prix de l’action a chuté (-50% depuis vendredi), tout comme celui des obligations (-6 pts pour la 2019, -25 pts pour la 2022, -25 pts pour la 2023 et -18 pts pour la 2024). Le FCF devrait rester négatif au moins jusqu’en 2019 et la dette devrait continuer à augmenter. Toutefois, la liquidité restera solide et le...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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