Spanish seamless steel tube and pipe producer Tubos Reunidos has announced its financial results for the first three months of the current year. In this period, the group's net profit increased by 12.5 percent year on year to €8.1 million.
In the given quarter, sales revenue rose by two percent to €120 million, while EBITDA increased by 19 percent to €20.2 million, both year on year. The EBITDA margin on sales revenue reached 16.8 percent in the first quarter this year, compared to 14.5 percent in the first three months last year.
During a meeting with shareholders, Tubos Reunidos stated that the group's main markets, namely, the US and Far East, indicated some improvement in the quarter in question. In addition, the company announced that in the next five years it will invest around €150 million.