Basque region, Spain-based seamless stainless steel pipe producer Tubacex has announced its financial results for the first half of the current year. The company said that, after more than four years of crisis in the energy sector, the overall and gradual market recovery is becoming more and more consolidated, being reflected as a 40 percent year-on-year rise in its order intake in the first half of the year.
In the given period, the company’s sales amounted to €323.5 million, falling by 10.3 percent year on year, while its net profit amounted to €5 million compared to a net profit of €6.7 million recorded in the same period of the previous year. In the January-June period of this year, Tubacex’s EBITDA stood at €33.3 million with a margin of 10.3 percent.
In the second half of the year, it is expected that the positive trend will continue, with good prospects particularly in Asia and the start of the construction works for various gas liquefaction plants in the US and Russia.
