Tubacex's Net Profit In 2018
Spain's multinational stainless steel, high-alloy seamless pipe and pipe manufacturer TUBACEX released a performance report showing that thanks to the gradual improvement of the market and the increase in the proportion of sales of high-tech value products, its sales in 2018 increased by about 38.1% year-on-year to 677.3 billion.
The euro was the highest in recent years (as well as quarterly), with the fourth quarter growing by about 31.4% to 157.4 million euros; the gross operating profit (EBITDA) was the highest since 2008, reaching 69.6 million euros, an increase of about 168.2%. In the fourth quarter, the fourth quarter increased from 1.7 million euros to 14.3 million euros in the same period of last year; the operating margin of gross profit increased from 5.3% in the previous year to 10.3%, of which the fourth quarter increased from 1.5% in the same period of last year to 9.1%; Operating profit (EBIT) increased from €28.30 million in the previous year to €34.5 million, of which the fourth quarter was converted from €28.5 million in the same period last year to €6.1 million; net profit attributable to the group from the previous year- €19.7 million turned into a profit of €17.4 million, of which the fourth quarter turned from €19.10 million in the same period last year to €5 million.
In 2018, TUBACEX directly accounted for 73% of sales to engineering companies and end users. Among them, oil and gas exploration and production accounted for 52% (41% of natural gas, 11% of oil), 30% of middle and lower reaches of petroleum refining and chemical industry, 15% of power generation, and 3% of others. In terms of final destinations, Asia accounts for 60%, Europe accounts for 28%, the United States and Canada account for 10%, and the rest account for 2%.
The high proportion of oil and gas production and production also reflects the high production of oil and gas production special pipes (OCTG) and umbilical pipes. Thanks to the Iranian project, TUBACEX's sales of OCTG in 2018 increased significantly. Although US sanctions have led to the suspension of Iranian projects, demand for OCTG in the Middle East is expected to increase.
In addition, the energy-saving and emission reduction transformation of the fossil energy power generation industry led by China continues, and TUBACEX has participated in several fossil energy power generation projects in China.
The midstream and downstream sectors such as TUBACEX's petroleum refining and chemical industry have seen partial recovery in new projects.
In looking ahead, TUBACEX said that we are undoubtedly out of the longest crisis in the oil field. It is expected that 2019 will be a year of transformation. A large number of investment projects will be approved for investment, and it will take time to turn into demand for the company's products, but it is expected It will expand strongly in 2020 and 2021. The performance in 2019 is expected to be very similar to 2018. It may end in 2019 with the largest undelivered orders in the company's history and the highest visibility.