May 18 (Reuters) – VALLOUREC VLLP.PA:
* GROSS OPERATING INCOME IN Q1 AT EUR 45 MLNS VS. EUR 80 MLNS A YEAR AGO
* REVENUE IN Q1 AT EUR 916 MLNS VS. EUR 702 MLNS A YEAR AGO
* NET LOSS GROUP SHARE IN Q1 AT EUR 35 MLNS VS LOSS OF EUR 93 MLNS A YEAR AGO
* AS OF MARCH 31, 2022, NET DEBT AMOUNTED TO 1,213 MLNS OF EUROS, VS 958 MLNS OF EUROS AT 31 DECEMBER 2021
* FREE CASH FLOW AT THE END OF Q1 OF -230 MLNS EUROS
* 2022 EBITDA NOW EXPECTED SIGNIFICANTLY ABOVE THAT OF FY 2021 DESPITE A Q1 IMPACTED BY THE STOPPING OF THE MINE
* LAUNCH OF THE CLOSURE PROCESS OF GERMAN SITES; THE PROCESS WILL TAKE PLACE OVER THE NEXT TWO YEARS AND WILL INCLUDE THE SALE OF LAND AND BUILDINGS
* ANNOUNCEMENT OF NEW MEASURES AIMED AT GENERATE 100 MLNS OF ADDITIONAL EUROS OF EBITDA IN A FULL YEAR; THE ASSOCIATED WORKFORCE REDUCTION SHOULD BE APPROXIMATELY 550 POSITIONS
* ON THE GERMAN SITES: REORGANIZATION SHOULD GENERATE 130 MLNS EUROS OF EBITDA IN A FULL YEAR, A REDUCTION IN INVESTMENT EXPENSES OF 20 MLNS EUROS. THE ASSOCIATED WORKFORCE REDUCTION SHOULD BE APPROXIMATELY 2,400 POSITIONS
* IMPLEMENTATION OF THESE MEASURES SHOULD BE FINALIZED IN THE FIRST QUARTER OF 2024
* 2022: THE INVESTMENT ENVELOPE IS EXPECTED JUST ABOVE 200 MILLION EUROS, INCLUDING APPROXIMATELY 50 MILLION EUROS FOR THE PREPARATION OF THE TRANSFER OF OPERATIONS FROM GERMANY TO BRAZIL
Original text on Eikon nGNEVcGjt For more details, click on VLLP.PA
(Editor from Gdansk)