Spain-based seamless stainless steel pipe producer Tubacex has announced its financial results for 2022.
In the given period, the company’s sales amounted to €714.7 million, almost doubling the level recorded in 2021, while its net profit amounted to €20.2 million.
In the full year, Tubacex’s EBITDA was at €92.3 million, compared to €17.5 million in 2021.
The company reported record-breaking results in terms of profitability and liquidity, as expected, despite the global economic backdrop of uncertainty and inflation rates.
In addition, Tubacex will build a tube finishing and threading plant in Abu Dhabi, which will be operational in 2024. At present, Tubacex has new production centers already in operation in Guyana, Kazakhstan, Brazil and the US.
