VALLOUREC : ERRATUM TO THE FULL YEAR 2016 RESULTS
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Posted On: 02/23/2017 6:00:22 AM
VALLOUREC : ERRATUM TO THE FULL YEAR 2016 RESULTS PRESS RELEASE dated February 22nd, 2017
| Press release | |
ERRATUM TO THE FULL YEAR 2016 RESULTS PRESS RELEASE dated February 22nd, 2017
Boulogne-Billancourt (France), 23 February 2017 - A typo was made in the balance sheet table (appendix section, page 14) of the press release dated February 22, 2017 released at 5:45pm CET announcing FY 2016 results. On the line "Bank loans and other borrowings", the right figure is 1,121 instead of 1,037. All the other figures are correct and remain unchanged. The amended table is shown hereunder and indicates the figure which was corrected. The updated press release is available on the company's website, www.vallourec.com , in the Investors section.
Summary consolidated balance sheet
| In millions of euros | ||||||||||
| Assets | 31-Dec | 31-Dec | Liabilities | 31-Dec | 31-Dec | |||||
| 2016 | 2015 | 2016 | 2015 | |||||||
| Equity, Group share | 3,284 | 2,646 | ||||||||
| Intangible assets, net | 125 | 149 | Non-controlling interests | 494 | 392 | |||||
| Goodwill | 383 | 329 | Total equity | 3,778 | 3,038 | |||||
| Net property, plant and equipment | 3,618 | 3,161 | Shareholder loan | 84 | ||||||
| Biological assets | 88 | 155 | Bank loans and other borrowings | 1,121 | 1,763 | |||||
| Investments in equity affiliates | 125 | 177 | Employee benefits | 227 | 224 | |||||
| Other non-current assets | 348 | 233 | Deferred tax liabilities | 80 | 216 | |||||
| Deferred tax assets | 190 | 149 | Other long-term liabilities | 121 | 43 | |||||
| Total non-current assets | 4,877 | 4,353 | Total non-current liabilities | 1,549 | 2,246 | |||||
| Inventories and work-in-progress | 1,035 | 1,066 | Provisions | 280 | 238 | |||||
| Trade and other receivables | 546 | 545 | Overdrafts and other short-term borrowings | 1,453 | 387 | |||||
| Derivatives - assets | 58 | 20 | Trade payables | 530 | 523 | |||||
| Other current assets | 283 | 307 | Derivatives - liabilities | 105 | 152 | |||||
| Cash and cash equivalents | 1,287 | 631 | Other current liabilities | 310 | 347 | |||||
| Total current assets | 3,209 | 2,569 | Total current liabilities | 2,678 | 1,647 | |||||
| Assets held for sale | 46 | 69 | Liabilities disposal for sale | 43 | 60 | |||||
| TOTAL ASSETS | 8,132 | 6,991 | TOTAL LIABILITIES | 8,132 | 6,991 | |||||
| Net debt | 1,287 | 1,519 | Net income, Group share | (758) | (865) | |||||
| Gearing ratio | 34.1% | 50.0% | ||||||||
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