Tubacex (ES:TUB) has released an update.
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Tubacex reported robust first semester results for 2024, with sales of 398.0M€ and an EBITDA of 50.1M€, bolstered by the initiation of the ADNOC project and the Abu Dhabi factory. The company anticipates stronger performance in the latter half of the year and significant growth in 2025, supported by a $1 billion order and a strategic partnership with Mubadala Investment Company. Tubacex’s net financial debt stands at 395.3M€, but an expected cash inflow from Mubadala is projected to reduce this debt considerably.
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