Recently, TUBACEX presented sales of EUR 121.4M, down 24% within a context marked by investment cuts in the oil companies and the continued fall of raw materials. The measures implemented by the company as part of its strategic plan have cushioned the impact of the crisis in its results for the first quarter.
“The current situation in the energy and raw materials sectors reflects the capacity of TUBACEX to anticipate and manage crisis situations. We are experiencing an unprecedented crisis in the sector but the resilience that we are showing is proof that our product, operational and management strategies are the right ones. For this reason, we continue to strengthen them in order to be better prepared for the changing market trends when they occur” according to Jesús Esmorís, CEO of TUBACEX.
The results presented respond to the TUBACEX Group’s forecasts, which predicted a complicated start to the year in line with the last results presented. The company has begun the year with a slight increase of 2% in its sales figure compared with the last quarter of 2015, a figure that would have reached 4% if the price of nickel had remained stable.
TUBACEX has strengthened its diversification strategy and is committed to growth markets. Therefore, Asia has continued to be the main destination market for the tubes produced by TUBACEX (66% of sales).
