July 27 (Reuters) – Vallourec SA VLLP.PA:
* REVENUE OF EUR 1.14 MD IN Q2 VS. EUR 842 MLNS A YEAR AGO
* GROSS OPERATING INCOME OF EUR 160 MLNS IN Q2 VS. EUR 148 MLNS A YEAR AGO
* NET LOSS, GROUP SHARE EUR 415 MLNS IN Q2 VS. PROFIT OF EUR 51 MLNS A YEAR AGO
* AS OF JUNE 30, NET DEBT STATED EUR 1.39 MD VS. EUR 720 MLNS A YEAR AGO
* IN Q2 2022, CASH FLOW GENERATED BY ACTIVITY IMPROVED TO €41 MILLION, VS – €15 MILLION IN Q2 2021
* NEW VALLOUREC FOUNDATION: THE TRANSFER WILL REQUIRE APPROXIMATELY 120 MILLION EUROS OF INVESTMENTS IN OUR BRAZILIAN FACTORIES TO ENABLE THE RESUME OF EUROPE’S HIGH-END TUBES VOLUMES BY THE END OF 2023
* NEW VALLOUREC FOUNDATION: THESE INITIATIVES WILL RELEASE 230 MILLION EUROS IN ADDITIONAL RECURRING EBITDA, WITH A POSITIVE CASH IMPACT OF 250 MILLION EUROS, THE IMPLEMENTATION WILL BE FINALIZED IN Q1 2024.
* 2022 RBE EXPECTED BETWEEN 650 AND 750 MILLION EUROS, SIGNIFICANTLY HIGHER THAN 2021
* OUTLOOK FOR THE PAU BRANCO MINE: FOR THE YEAR 2022, VALLOUREC IS NOW TABLE ON AN ANNUAL PRODUCTION OF 2.6 MILLION TONNES, ASSUMPTION USED IN ITS OUTLOOK FOR EBITDA
* H2 2022 FREE CASH FLOW SHOULD BE POSITIVE
* CAPITAL SPENDING EXPECTED TO BE SLIGHTLY ABOVE €200 MILLION IN 2022
Original text on Eikon [ID: nGNEbwjjmv]
For more details, click on VLLP.PA
(Gdansk Newsroom)