The company has obtained “historical” data in terms of revenue and EBITDA. The pipe manufacturer Alava hopes that this good trend will continue in 2024.
The Tubacex group has achieved a net profit of 36.3 million euros in 2023, one 79.5% higher than last year’s result. Moreover, he has obtained historical figures in turnover, with 852.4 million euros (19.3% more), with an EBITDA (gross operating result) of 125.2 million euros (35.6% more).
As stated by the manufacturer of Alava pipes in a note, the ‘record’ results were achieved despite “a challenging macroeconomic and geopolitical environment” and the “bearish commodity environment”, with “good evolution of the Upstream Gas sector and the Asia and Middle East geographic region.”
The group’s turnover has reached 852.4 million euros, representing a growth of 19.3% compared to 2022, a “record” in billing, the company said.
He EBITDA the accumulated end-of-year figures in turn amount to 125.2 million euros, 35.6% more than in 2022, while the EBITDA margin is 14.7%. Both data are at the “highest level in Tubacex history”, with the addition that in the case of the EBITDA margin it is at the peak of 14.9% in the last quarter of the year.
Overlooking the 2024The group’s CEO, Jesús Esmorís, has assured that they expect “a first half in line with the previous year, with upside potential in the second half of the year and deposit levels that will allow us to anticipate growth in 2025.”
With this information, the board of directors proposes the payment of a gross dividend of 14.5 million euros.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
