The market in which TUBACEX products and services operate is at historically low levels of activity and with delays in the award of certain projects, which further hinders recovery. However, the Company has closed the first half of the year with a net profit of EUR 1.9M.
The evolution of raw materials has presented a downward trend in the first six months of the year. More specifically, nickel closed June at a price 7.5% lower than that of 2016, whilst molybdenum and chromium have also reverted their growth trend, reporting sharp falls. The oil price has also fallen once more, standing at 15.7% below the close of 2016. In this context, the TUBACEX sales figure for the first half of the year stands at EUR 241.4M, which is 7.7% lower than that of the same period last year, an EBITDA of EUR 17.6M, down 11.7%.
The TUBACEX strategy based on the promotion of high value-added products has provided it with a portfolio of Premium products of EUR 700M to be supplied over the forthcoming three years, the highest figure ever.
