Spain-based seamless stainless steel pipe producer Tubacex has announced its financial results for the fourth quarter and the full year of 2024.
In the given quarter, the company’s net profit amounted to €8.7 million, up by 1.6 percent from €8.5 million recorded in the same period of 2023, while its sales revenue declined by 5.7 percent year on year to €198.5 million. In addition, Tubacex’s EBITDA came to €28.9 million, decreasing by eight percent year on year.
In 2024, the company’s net profit dropped by 37.1 percent to €22.9 million, while its sales revenues amounted to €767.5 million, falling by 10.0 percent, both on year-on-year basis. Also, Tubacex’s EBITDA in the given year was €107 million, down by 14.6 percent compared to the previous year.
The company said it continues to reinforce its strategic partnerships and long-term agreements. Recent contract awards, including two new agreements with Petrobras, have further solidified its leadership in the gas extraction market, particularly in a highly demanding operational environment, according to its statement.
