The Alava-based company emphasizes that the results could have been higher, but that they are suffering from high inflation and tensions in the supply chain.
tubacex has achieved a profit of 3.4 million euros in the first quarter of the year, with which the company has achieved a positive result for the second consecutive quarter. In the same period last year, the stainless steel pipe company from Alava suffered a loss of 16.4 million.
Turnover rose to 158.1 million euros, an increase of 82.7% compared to the first quarter of 2021.
Order entries have been more than 500 million euros, i.e. maximum in the last four years, adding that the general context of global energy demand growth is accelerating the award of new projects, therefore the company expects to increase the order book increase in the short term.
In addition, Tubacex emphasizes that the results could have been better, but have suffered, among other things, from high inflation, supply chain tensions and increases in energy prices.
Source: EITB
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