Tubacex, S.A. Announces Earnings Results for the Third Quarter and Nine Months of 2018; Provides Earnings Guidance for 2018
November 04, 2018
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Tubacex, S.A. announced earnings results for the third quarter and nine months of 2018. For the quarter the company reported that sales of EUR 159.3 million compared to EUR 129.1 million a year ago. EBIT was EUR 12.1 million compared to LBIT of EUR 0.5 million a year ago. Net profit was EUR 5.7 million compared to LBIT of EUR 0.8 million a year ago.
For the nine months the company reported that sales of EUR 519.9 million compared to EUR 370.5 million a year ago. EBIT was EUR 28.4 million compared to EUR 0.3 million a year ago. Net profit was EUR 12.4 million compared to EUR 1.1 million a year ago.
By the end of the financial year, the company expects a very significant improvement of results in relation to 2017 and maintain the EBITDA margin in double figures.
Tubacex SA is a Spain-based company primarily engaged, through its subsidiaries, in the steel industry. The Company's main activity is the manufacture, distribution and sale of seamless stainless steel tubes and pipes. The Companyâs product portfolio also includes hollow bars, steel and fittings. It has operations established in Europe, the Americas and Asia.The Company is a parent of Grupo Tubacex, a group, which comprises a number of controlled entities, including Aceria de Alava SA, Tubacex Tubos Inoxidables SA, Schoeller-Bleckmann Edelstahlrohr Inmobilien AG, Salem Tube Inc, Tubacex Taylor Accesorios SA and Metaux Inox Services SAS, among others.
TUBACEX, S.A. 
