Tubacex (ES:TUB) has released an update.
Tubacex has completed a strategic agreement with Mubadala Investment, injecting 182.1 million euros into its OCTG business, and aims to maintain an upward trend in results and margins for the last quarter of 2024. Despite a temporary 11.4% decline in sales due to market conditions and strategic stock accumulation, the company recorded an EBITDA of 78.1 million euros and a net profit of 14.2 million euros for the first nine months of the year. With a robust order book and strategic contracts, Tubacex is on track to achieve its NT2 Strategic Plan goals by 2027.
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