Tubos Reunidos, a leading Spanish seamless tube and pipe producer based in the Basque region, has announced its financial results for the first half of the current year, indicating an increase of 1.4 percent year on year in net profit to €14.4 million.
In the first six months, Tubos Reunidos' sales revenue rose by two percent to €238.6 million and its EBITDA increased by seven percent to €36.7 million, year on year. Moreover, the EBITDA margin on sales revenue reached 15.4 percent.
During a meeting with its shareholders, Tubos Reunidos stated that in the given period the group recorded a positive business performance in the oil and gas sector, particularly in the US, and also in the power generation field in emerging areas such as India, South Korea, Thailand and the Middle East. The group's positive financial results were mainly supported by overseas sales.