Vallourec: confirms FY 2020 outlook after Q2 results
(CercleFinance.com) - On Wednesday evening, Vallourec announced Q2 2020 sales of 843 million euros, down -22% y-o-y.
EBITDA amounted to 43 million euros, compared with 102 million euros in Q2 2019. It made a net loss of 493 million euros (largely due to asset impairments of -441 million euros) vs. just -21 million euros in Q2 2019.
"2020 Outlook confirmed - Outlook supported by resilience levers (...) Free cash flow targeted positive in H2, including a significant release of working capital," the group said.
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