Basque region, Spain-based seamless stainless steel pipe producer Tubacex has announced its financial results for the full year of 2015.
In 2015, the company registered a total turnover of €533.4 million, decreasing by 2.4 percent year on year, while it registered a net profit of €8.4 million decreasing from a net profit of €23.8 million in 2014. Tubacex's EBITDA stood at €48.9 million, declining by 23.7 percent year on year, with a margin of 9.2 percent.
Tubacex stated that in the given year, its strategic plan has succeeded in minimizing the impact of the declining oil and nickel prices which led to the market collapse. The company estimates that the current year will be hugely influenced by the market situation and declining prices of the raw materials. However, from the second quarter onwards, a gradual improvement is expected on the basis of the increased company market share in strategic added-value products.