Full Year 2019 Vallourec SA Earnings Call Transcript
Okay. So good evening, everyone. And today is a kind of a special day for me, mostly because we announced a new step in our turnaround, strong results in 2019, positive commitment for 2020 and significant initiative to strengthen our balance sheet, including rights issue, which we announced today. And second, because it is my last meeting with you since, as you likely know, after 10 years as CEO of Vallourec, I will hand over in a few weeks, exactly on March 15, this position to Edouard Guinotte, who is, therefore, on stage with us tonight. And obviously, I will leave most of the floor today to Edouard and Olivier, who are the ones committing for the future.
So let me briefly start with the agenda of this meeting. As usual, I will introduce the highlights of 2019 and Olivier will provide you with more details. All in all, we delivered strong results in 2019 and more than doubling our EBITDA. And we ended the year close to free cash flow breakeven for the whole year and with almost stable net debt, which I think is much better
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