2019 has marked a turning point for recovery as TUBACEX order intake demonstrates. Although far from pre-crisis levels it has experienced an increase of 30% in relation to the previous year. This gradual and general market recovery is also enabling operating leverage ratios to be maintained for all business units and therefore, achieving double-digit consolidated margins. Also, 2019 turnover amounted to €613.5 M, in line with sales of the previous year, thanks to market improvement as well as to the incorporation of the NTS Group. EBITDA closed the year at €67.1 M, only 3.5% below 2018 EBITDA, and with a margin of 10.9% and a profit of €11.1 M.
In addition to acquiring the minority stake which did not hold in IBF and the takeover of NTS Group which represented expenses of almost €30 M, Tubacex Group has built a new plant in Durant (Oklahoma, USA) which was commissioned in December and is expected to be fully operational in the second semester 2020.