adri67 schreef op 2 augustus 2017 15:30:
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Better H1 2017 results; 2017 EBITDA target revised upwards
Q2 2017 EBITDA positive, at €3 million
H1 2017 EBITDA of -€18 million, up €86 million yoy
FY 2017 guidance revised upwards: Full year 2017 EBITDA targeted improvement from +€125 million to +€175 million versus 2016
Commenting on these results, Philippe Crouzet, Chairman of the Management Board, said:
“Vallourec’s financial results in the first half reflect an improvement of the Group’s performance both sequentially and year on year, with an EBITDA improving above expectations.
In the US, demand for O&G products remained strong thanks to an increased number of active rigs, enabling us to start passing through price increases. We are now starting to see a flattening trend in rig count. In Brazil, we benefited from good offshore deliveries at the beginning of the year and from the expected benefits of the Transformation Plan. In the rest of the world, tendering activity for Oil & Gas products remains steady for NOCs, while IOCs tendering activity shows some signs of upcoming recovery, in a still competitive environment.
We remain fully focused on our Transformation Plan, which is delivering the expected cost savings. We are rolling out our new organization, aiming at strengthening the Group's customer focus in each region, optimizing the use of our global resources, and boosting our development.
In that context, Vallourec upgrades its full year 2017 EBITDA target with an improvement ranging from +€125 million to +€175 million when compared to 2016.”
Ik lees dit als een verbetering van de Ebitda met 175 mio ten opzichte van de Ebitda van 2016.