Italy-based Dalmine Spa, seamless pipe producer subsidiary of Italo-Argentine Tenaris Group, has announced that in 2011 the company's sales revenue again exceeded €1 billion, for the first time since 2009, rising by 23 percent year on year to €1.17 billion. Meanwhile, in 2011 Tenaris Dalmine's EBITDA amounted to €189 million, with an EBITDA margin of 16.3 percent.
According to company CEO Luca Zanotti, Tenaris Dalmine's business is solid, confirmed by the fact that its investments are set to double the €114 million figure initially scheduled for the 2010-12 period. Mr. Zanotti stated, "Profit margins are lower compared to some years ago, but in comparison with the average of the iron and steel industry we cannot complain." The company, he stated, sells about 25 percent in Italy, 25 percent in elsewhere in Europe and 50 percent in the rest of the world.
The Tenaris Dalmine CEO expressed satisfaction with the financial performance of the company in the whole of 2011. As regards the outlook for 2012, he said Tenaris Dalmine's activity should show almost no variation compared to the preceding year, producing about 650,000 mt of seamless pipes and shipping about 700,000 mt.