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.

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