Basque region, Spain-based seamless stainless steel pipe producer Tubacex has announced its financial results for 2014. The company registered a net profit of €23.8 million in the given period, increasing by 58.2 percent year on year, while its sales revenues amounted to €546.7 million, down 1.4 percent compared to the previous year. The company's EBITDA increased by 25.1 percent year on year to €64.1 million.
Tubacex CEO Jesús Esmorís pointed out that "the market environment for 2015 is complicated", with a significant fall in oil prices, which is causing a delay in some investments.