Q4 2025 Tubacex SA Earnings Call Transcript
Key Points
- Tubacex SA (STU:TCX) maintained stable profitability with an adjusted EBITDA of €105.8 million, nearly in line with the previous year, and improved its EBITDA margin to 14.17%.
- The order book closed the year at $1.233 billion, with a significant portion consisting of high value-added and premium products.
- The company successfully started operations at its new Abu Dhabi plant, contributing significantly to sales and demonstrating operational excellence.
- Tubacex SA (STU:TCX) maintained a 40% payout dividend policy on adjusted net profit, proposing a distribution of €6.4 million.
- The company has a diversified sales mix by sector and geography, reducing business cyclicity and aligning with strategic objectives.
- Sales figures for 2025 dropped by 6.3% compared to 2024, affected by market uncertainties and global weakness.
- Extraordinary non-recurring non-cash accounting adjustments impacted EBT by €30.7 million, EBITDA by €49.3 million, and net income by €47.2 million.
- The geopolitical environment and market volatility continue to pose challenges, affecting project timelines and order conversions.
- The company's net financial debt ratio remains high at 3.3 times, with aspirations to reduce it below two in the coming years.
- The North American market faced challenges due to protectionist policies, although the direct impact on sales was minimal.
(Introduction playing)
Good morning, everyone and welcome to the Tubacex results released for 2025. I'm Raquel Ruiz responsible for Investor Relations.
And with me with our Chief Executive Officer Josu Imaz and our Financial Director Guillermo Ruiz-Longarte. We'll start the session with a brief description of the main highlights and magnitudes during the year, and then we'll move on to a Q&A. I remind you that all questions, should be, sent in in writing. You can use the tool provided on the webcast.
I'll now hand over to Josu Imaz.
Thank you very much, Raquel, and welcome to this result released for the year 2025. As Raquel said, we start with a review of the main items in the year, and the first has to be the situation of general uncertainty and the context of general weakness in the market that has affected the activity volumes globally and as a result it gives us a sales figure for the year of EUR719.3 million which means
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
