Vallourec released FY16 results. Revenues reached €2,965m (-22%), EBITDA €-219m (vs €-77m), EBIT €-749m (vs €-838m) and net results €-758m (€-865m). Free cash flow was €-395m (and €-574m at constant WCR). Net debt at the end of FY16 amounted to €1.3bn. No dividend will be proposed. Looking forward, the group anticipates EBITDA to improve by…€50-100m in FY17.
23 Feb 2017
FY16 in line; H1 17 set to be weak...some hopes later on
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FY16 in line; H1 17 set to be weak...some hopes later on
Vallourec released FY16 results. Revenues reached €2,965m (-22%), EBITDA €-219m (vs €-77m), EBIT €-749m (vs €-838m) and net results €-758m (€-865m). Free cash flow was €-395m (and €-574m at constant WCR). Net debt at the end of FY16 amounted to €1.3bn. No dividend will be proposed. Looking forward, the group anticipates EBITDA to improve by…€50-100m in FY17.