Basque region,
Spain-based seamless stainless steel pipe producer
Tubacex has announced its financial results for the first nine months of this year.
In the given period, the company registered a total turnover of €414.5 million, increasing by 3.6 percent year on year, in spite of the 30 percent fall in demand, while it registered a net profit of €14.1 million despite the unfavorable market environment.
Tubacex's EBITDA stood at €41.8 million with a margin of 10.1 percent.
"In spite of the fall in volume, we have strengthened our position in premium products thanks to intense technical-commercial effort. The operational and business improvements carried out in recent years and the flexibility and cost reduction plans implemented since the end of 2014 can be added to this. These measures are enabling
Tubacex to manage the current situation maintaining significant operational profitability quarter after quarter," said Jesús Esmorís, CEO of
Tubacex Group.