Basque region, Spain-based seamless stainless steel pipe producer Tubacex has announced its financial results for the first half of the current year.
In the given period, the company’s sales amounted to €261.5 million, decreasing by 13.5 percent year on year, while its net profit declined by 87.7 percent to €1.7 million compared to the same period of the previous year. In the first half this year, Tubacex’s EBITDA stood at €19.9 million with a margin of 7.6 percent.
"We will further enhance operational improvements, increasing efficiency and reducing costs. We will continue reducing our oil and gas dependence within our diversification strategy and developing new steel grades and technologies; thanks to these efforts we have reached a leading position in the supercritical boiler segment,” said Jesús Esmorís, CEO of Tubacex Group.