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August 09, 2008


Vallourec Q1 net income down by 20% YoY

Seamless tube major Vallourec announced its results for the first quarter of 2008. Its consolidated sales in the first quarter of 2008 declined by 4.8% YoY as compared with the first quarter of 2007 to EUR 1,383.6 million.

Q1 ‘08Q1 ‘07Change
Sales1,453.91,383.6-4.8%
EBITDA424.6341.8-19.5%
Operating income395.9310.7-21.5%
Total net income249.3199.2-20.1%

(In EUR million)

Mr Pierre Verluca chairman of the management board of Vallourec said that "Vallourec continues to deliver good performances and to demonstrate its resilience in spite of persistent dollar weakness and a surge in raw material costs. Demand remains robust, and our plants continue to operate at high capacity. The price increases which we have announced are progressively taking effect, making us confident in confirming our outlook."