Vallourec: suspends FY forecasts

(CercleFinance.com) - The coronavirus epidemic (Covid-19) in countries where Vallourec is present, combined with the collapse in the price of oil, will badly impact Vallourec's businesses - especially those in North America.


The group says that so far it is impossible to quantify the impact of these factors on its performance in, or targets for 2020.

Vallourec has therefore decided to suspend the forecasts that it provided previously.

Vallourec is resolutely implementing all the necessary measures to adapt and accelerate its cost-reduction program to face the situation.

Vallourec still believes it will be able to complete the 800 million euro capital increase announced on 19 February this year, as soon as conditions permit.

It also has a solid liquidity position, which has so far not been specifically affected by the coronavirus epidemic or by the fall in oil prices.


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