Tubacex, S.A. Reports Consolidated Earnings Results for the First Half Ended June 2013; Provides Earnings Outlook for the Full Year of 2013
July 22, 2013
Share
Tubacex, S.A. reported consolidated net profits of €10.69 million between January and June 2013, representing an increase of 74.7% with respect to €6.12 million reported for the same period in 2012. The gross operating profit (EBITDA) for the first half has risen to €31.26 million, up 19.9% on €26.08 million reported for the first six months of 2012. The Group's consolidated sales stood at €297.90 million between January and June, which represents an increase of 5.2% with respect to €283.13 million for the first half of 2012, with a significant increase in the sale of high value-added products, especially for oil and gas exploration and extraction. Operating profit for the period was at €20.51 million as against €15.33 million reported last year.
The company reported that inspite of this macroeconomic uncertainty, the company hopes to close the year with results along the same lines as those presented for the first half of 2013.
Tubacex SA is a Spain-based company primarily engaged, through its subsidiaries, in the steel industry. The Company's main activity is the manufacture, distribution and sale of seamless stainless steel tubes and pipes. The Companyâs product portfolio also includes hollow bars, steel and fittings. It has operations established in Europe, the Americas and Asia.The Company is a parent of Grupo Tubacex, a group, which comprises a number of controlled entities, including Aceria de Alava SA, Tubacex Tubos Inoxidables SA, Schoeller-Bleckmann Edelstahlrohr Inmobilien AG, Salem Tube Inc, Tubacex Taylor Accesorios SA and Metaux Inox Services SAS, among others.
TUBACEX, S.A. 
