Vallourec, world leader in premium tubular solutions, has announced its results for the third quarter of 2011. The consolidated financial statements were presented by Vallourec's management board to its supervisory board.
Summary of results for Q3 and 9M 2011
| Q3 '11 | Q2 '11 | QoQ | Q3 '10 | YoY | 9M '11 | 9M '10 | YoY | |
| Sales Volume ('000 tonnes) | 601 | 561 | +7% | 507 | +19% | 1,663 | 1,335 | +25% |
| Sales | 1,306 | 1,290 | +1% | 1,189 | +10% | 3,743 | 3,188 | +17% |
| EBITDA | 228 | 254 | -11% | 251 | -9% | 685 | 664 | +3% |
| As % of sales | 17.4% | 19.7% | 21.1% | 18.3% | 20.8% | | ||
| Total net income | 105 | 126 | -17% | 130 | -20% | 324 | 333 | -3% |
| Net income, Group share | 91 | 112 | -19% | 115 | -21% | 285 | 302 | -6% |
In EUR million
Mr Philippe Crouzet chairman of the management board stated that "Volumes and sales increased during the third quarter and results were in line with our expectations. The business environment in energy markets remains positive for Vallourec, while in non energy markets, distributors have started to show signs of caution in view of macroeconomic uncertainties. With our new projects progressively coming on stream, we are strengthening our industrial and commercial positions to benefit from the growing oil & gas markets and to efficiently address our customers' needs, through more local presence and more premium capacity."
