Basque region, Spain-based seamless stainless steel pipe producer Tubacex has announced its financial results for the first nine months of the current year. The company registered a profit before tax of €25.2 million in the given period, increasing by 96.9 percent year on year, while its sales revenues amounted to €400 million, down 2.9 percent compared to the corresponding period of the previous year, with an alloy surcharge that has remained considerably lower than in 2013, with the exception of the third quarter of the year.
Tubacex said that, if the nickel price had remained steady, sales for the first nine months of 2014 would have been similar to those registered in 2013.
During the January-September period, Tubacex registered an operating profit of €33.9 million, rising 40.7 percent compared to the same period of the previous year.