Spanish tubular solutions manufacturer TUBACEX has presented its results for the first quarter of 2019 to the National Securities Market Commission (CNMV), in which it has obtained sales of €143.5 million, down 14.8% on the same period for the previous year. Profit stood at €1.8 million at the beginning of a year marked by the market recovery, with good prospects in high value-added product segments and record intake for umbilical tubes.
Highlights
- Sales for the first quarter of the year amounted to €143.5 million, with earnings before interest, tax, depreciation and amortization (EBITDA) of €14.3 million and an EBITDA margin of 9.9%.
- TUBACEX has a solid financial structure with a cash flow in excess of €150 million.
- TUBACEX is in the final award phase of several unique, multi-year projects with high added value, both in the gas and power generation sectors.
- The year has begun with a gradual recovery, with very good prospects in high value-added product segments and record intake for umbilical tubes.
- In terms of results, a similar year to that of 2018 is expected, with the possibility of closing the year with the company's highest ever portfolio.
For full details on TUBACEX’s first quarter results, please click here.