Spain-based seamless stainless steel pipe producer Tubacex has announced its financial results for the second quarter and the first half of this year.
In the given quarter, the company report a net loss of €0.6 million, compared to a net profit of €7.7 million in the second quarter of 2025, while its sale revenues amounted to €169.5 million, down by 5.4 percent. In addition, Tubacex's EBITDA in the second quarter came to €17.9 million, compared to €30 million in the same quarter of last year.
In the first half, the company's net profit dropped by 95.8 million year on year to €0.7 million, while its sales revenues came to €323.6 million, dropping by 10.5 percent year on year. Additionally, Tubacex's EBITDA in the given period moved down by 37.9 percent compared to the first half of 2025 to €37.9 million.
The company stated that its first-half performance reflects the lower order intake recorded during 2025 amid a business environment characterized by new tariff and regulatory policies, increased commercial volatility, and delays in purchasing and investment decisions across the markets in which it operates. In addition, Tubacex emphasized that its operations have been significantly affected since March by operational and logistical disruptions stemming from instability in the Middle East, particularly impacting its activities in Abu Dhabi. The disruptions have affected planning, scheduling, production, logistics and invoicing across the entire value chain serving Abu Dhabi. According to the company, its priority has been to avoid any interruption to supply and production in the region.
Following the closure of the Strait of Hormuz, Tubacex adopted alternative logistics routes to maintain supply continuity, although some shipments were temporarily held in transit. As a result, it reported a temporary increase in working capital and net financial debt. The company stated that these impacts are temporary and are expected to gradually normalize as the operating environment stabilizes.
Tubacex also noted that its short-term performance will continue to be affected by seasonal factors as well as a challenging commercial and geopolitical environment. The company expects activity and financial results to improve progressively as geopolitical conditions ease and logistics flows return to normal.
