TUBACEX presents first 9 months of 2022 results to CNMV

TUBACEX has presented its results for the first nine months of 2022 to the CNMV recently, in which the company’s recovery is consolidated. At the start of the year, TUBACEX set out to exceed the results obtained in 2018 and 2019, and it has already fulfilled its objective in the first nine months of the year, confirming that it will close the year better than initially foreseen. Thus, EBITDA stands at €67.3M, with profit before tax of €20.3M. These figures clearly reflect the company’s competitiveness in the current environment, marked by high inflation. It must be pointed out that the quarterly EBITDA has amounted to €24.8M, the highest since the last quarter of 2007, with a margin of 14.3% over sales.

Sales between January and September 2022 have amounted to €527.1M, doubling those for the same period last year. It is also noteworthy that the positive rate of order intake has continued, which keeps the backlog above €1,500M, the highest ever.

The working capital amounts to €242.3M, up €19.9M on the 2021 year-end and at a similar level to that reported in June. Nevertheless, the percentage of working capital over sales has improved, moving from 60.9% at the close of 2021 to 37.5% currently.

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