Q2 2025 Tubacex SA Earnings Call Transcript
Key Points
- Tubacex SA (XMAD:TUB) reported a positive assessment of the first half of 2025, with sales figures over €360 million and an EBITDA of €61 million.
- The company maintains a strong backlog of around €1.4 billion, focusing on high value-added products, which provides visibility and confidence in future profitability.
- Successful completion of the investment in the Abu Dhabi plant, which is expected to contribute positively in the short, medium, and long term.
- The company has a strategic alliance with ADNOC, including a multi-annual license agreement that is expected to generate recurring revenue.
- Tubacex SA (XMAD:TUB) has a strong commitment to sustainability, with ambitious goals for 2030 focused on neutrality, business circularity, and energy transition solutions.
- Sales in the first half of 2025 were 9% lower than the same period last year, impacted by a 12% lower average price of nickel and a 12.8% depreciation of the EUR/USD exchange rate.
- The global economic context and tariff war have created uncertainty, affecting the company's operations and order intake.
- The net financial debt increased to €369 million due to higher working capital and final payouts related to the Abu Dhabi investment.
- There has been a slowdown in order intake, particularly in commoditized product segments, due to global economic uncertainty.
- The company faces challenges in the drilling market, especially in the United States, where the number of wells in operation has been declining.
In a world of constant evolution, Tubacex is at the forefront, continuously adapting and innovating to chart a unique course. We don't just keep pace with the latest trends, we set them.
Our devotion to innovation and human progress drives us to emerge as a global front runner in advanced industrial products and services for the energy and mobility sectors.
Operating in 60 countries, our expansive network includes over 2,500 dedicated employees, 24 manufacturing plants, 14 service hubs.
2 innovation centers and 15 sales offices backed by more than 400 quality certifications at Tubacex we leverage our in-depth expertise in materials technology, metallurgy, and industrial processes as a fully integrated company, co-creating innovative end to end solutions that begin with the selection of superior materials and extend to the development of advanced corrosion resistant alloys tailored for use in environments where harsh conditions prevail.
Our strategic alliances enhance our stability and visibility, positioning us as leaders within the industry.
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