Tubacex : Q3 2024 results and Mubadala agreement reaffirm positive stance
>Higher EBITDA margins sustain results despite weaker temporary sales - Tubacex’s Q3 2024 results came in in line with our estimates at the EBITDA level but with significantly lower revenues and stronger EBITDA margins (16.4%: >200 bp vs Q3 2023). Sales were affected by seasonal factors and some extraordinary ones such as the slowdown of orders, the delayed start of certain projects in an uncertain environment and the preparation of materials for the gradual execution...Tubacex SA is a Spain-based company primarily engaged, through its subsidiaries, in the steel industry. The Company's main activity is the manufacture, distribution and sale of seamless stainless steel tubes and pipes. The Company's product portfolio also includes hollow bars, steel and fittings. It has operations established in Europe, the Americas and Asia.The Company is a parent of Grupo Tubacex, a group, which comprises a number of controlled entities, including Aceria de Alava SA, Tubacex Tubos Inoxidables SA, Schoeller-Bleckmann Edelstahlrohr Inmobilien AG, Salem Tube Inc, Tubacex Taylor Accesorios SA and Metaux Inox Services SAS, among others.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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