Tubacex posts decreased net profit for 2018

Friday, 01 March 2019 16:10:44 (GMT+3)   |   Istanbul
       

Basque region, Spain-based seamless stainless steel pipe producer Tubacex has announced its financial results for 2018.

In the given year, the company’s sales amounted to €677.3 million, increasing by 38.1 percent year on year, while its net profit amounted to €17.4 million compared to a net profit of €19.7 million recorded the year before. In 2018, Tubacex’s EBITDA stood at €69.6 million, which was the highest since 2008 and was 2.7 times the result obtained in 2017.

According to Jesús Esmorís, Tubacex CEO, a large number of investment projects will receive the go-ahead, anticipating a strong expansion for the company in 2020 and 2021. He also added that the company is in the final award phases of several singular, high value-added multi-annual projects, which along with their strategic alliances enable them to be optimistic about the level of orders to be won in the coming year.


Most Recent Related Articles

Another decrease in Turkey’s ship scrap market

Ex-Belgium scrap price increases slightly in Turkey

Local Turkish wire rod prices fall slightly

Local Turkish rebar spot market activity gains momentum

Turkey-based IDC’s sales revenues and output rise in Q1