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TUBACEX reports on annual general meeting

Published by , Digital Editorial Assistant
Oilfield Technology,

TUBACEX’s annual general meeting (AGM) was held at the company’s headquarters in Llodio on 22 May 2019. At this event, the company reviewed 2018, presenting their vision for the forthcoming years, and approved agreements including the new composition of the Board of Directors.

TUBACEX closed 2018 with an EBITDA of €69.6 million, which is the highest since 2008; with sales of €677.3 million (38.1% higher than in 2017) and profit reaching €17.4 million. During the AGM, TUBACEX’s Chief Executive Officer Jesús Esmorís highlighted the value of the company's positioning in key segments, with the signing of three major alliances on high-growth markets; in particular, Egypt, India and the Middle East.

Key points from Tubacex’s AGM:

  • TUBACEX’s annual general meeting (AGM) approved the appointments of Francisco Javier Garcia Sanz and Rosa Garcia as Independent Directors and Gema Navarro Mangado as Proprietary Director.
  • The AGM approved a supplementary payment of a €3 000 000 dividend to become effective on 3 June 2019, adding to the dividend of the same amount paid in January.
  • TUBACEX expects to close the year with the largest premium product portfolio thanks to an improved business performance, as well as the projected awarding of high relevance orders.
  • TUBACEX also highlighted the role played by Fundación Tubacex after three years of activity promoting the UN 2030 Agenda for Sustainable Development.


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