Spain-headquartered leading producer of stainless & alloy steel pipes Tubacex reported positive results in January-March 2022 quaretr, for the second consecutive quarter, consolidating the company’s recovery in spite of the global context of instability. Tubacex reported that sales for the first quarter of the year amounted to EUR 158 million up 83% YoY & EBITDA of EUR 19 million in Q1 2022 which is 12% more than in the same period of the previous year. Its net profit amounted to EUR 3.4 millionIn spite of external uncertainties, order intake for the quarter has remained solid overall, boosting the backlog to more than EUR 500 million, reaching the highest value in the past four years. The energy market is now in an expansion phase after more than seven years of capital expenditure cuts, and the increase in worldwide demand for energy is accelerating the award of new projects, so the company expects to increase its backlog in the short term. Therefore, TUBACEX maintains its forecast of obtaining results for the 2022 financial year in excess of those reached in 2018 and 2019.TUBACEX CEO Mr Jesús Esmorís said “The good mix of the current backlog with considerable weight in high value-added products, along with efforts made over the past two years, with adjustments in all cost items, is enabling us to maintain a margin in double figures despite the price rises throughout the entire value chain and particularly the cost of energy, which has significantly hampered results. It is worth pointing out that were it not for the high levels of inflation, which have been unprecedented in recent years, together with pressures in the supply chain and energy price rises, among other factors, the company’s results would have been even higher.”TUBACEX is a multinational group with its headquarters in Alava and a global leader in the manufacture of stainless steel and high-alloyed tubular products (tubes and accessories). It also offers a wide range of services from the design of tailored solutions to installation and maintenance operations. It has production plants in Spain, Austria, Italy, the United States, India and Thailand, as well as Saudi Arabia, Dubai, Norway, Canada and Singapore through the NTS Group, worldwide service centers and sales offices in 38 countries. The main demand segments for the products manufactured by TUBACEX are the oil and gas, petrochemical, chemical and power generation industries.