TUBACEX has kicked off the year with an EBITDA of EUR 13M, which is up 67.9% on the same period last year, reaching a margin of 10%, according to the results presented to the CNMV (Spanish Securities Exchange Commission). In a market environment that is still weak, the company has secured a net profit of EUR 2.8M in the Q1 of the year. Its sales have amounted to EUR 131.3M, up 8.2% on the Q1 2016. These results have been possible due to the positioning of TUBACEX in high value-added products and the commercial strengthening in growth areas, enabling it to access large volume projects whose reactivation has offset the weak market situation.
It is worth mentioning that the working capital rose to EUR 206.9M in the Q1 of the year, which represents 41.1% of sales and an increase of EUR 23.7M with respect to the close of 2016. This rise is due to the increased activity of Premium products at the plants in Spain and Austria and the development of Tubacex Service Solutions (TSS).
