Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Xabier Sagredo Ormaza was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annuncio • Apr 21
Tubacex, S.A., Annual General Meeting, May 27, 2026 Tubacex, S.A., Annual General Meeting, May 27, 2026. Location: universidad de deusto, avenida de las universidades 24, bilbao.., Spain Annuncio • Jan 24
Tubacex, S.A. to Report Fiscal Year 2025 Results on Jan 27, 2026 Tubacex, S.A. announced that they will report fiscal year 2025 results on Jan 27, 2026 Annuncio • Jan 23
Tubacex, S.A. to Report Fiscal Year 2025 Results on Jan 27, 2026 Tubacex, S.A. announced that they will report fiscal year 2025 results on Jan 27, 2026 Annuncio • Oct 28
Tubacex, S.A. to Report Q3, 2025 Results on Oct 31, 2025 Tubacex, S.A. announced that they will report Q3, 2025 results on Oct 31, 2025 Annuncio • Jul 07
Tubacex, S.A. to Report First Half, 2025 Results on Jul 24, 2025 Tubacex, S.A. announced that they will report first half, 2025 results on Jul 24, 2025 Annuncio • Apr 23
Tubacex, S.A. to Report Q1, 2025 Results on Apr 25, 2025 Tubacex, S.A. announced that they will report Q1, 2025 results on Apr 25, 2025 Annuncio • Apr 17
Tubacex, S.A., Annual General Meeting, May 22, 2025 Tubacex, S.A., Annual General Meeting, May 22, 2025. Location: palacio euskalduna, abandoibarraetorbidea 4, bilbao Spain Annuncio • Feb 21
Tubacex, S.A. to Report Fiscal Year 2024 Results on Feb 28, 2025 Tubacex, S.A. announced that they will report fiscal year 2024 results on Feb 28, 2025 Annuncio • Oct 31
Tubacex, S.A. to Report Q3, 2024 Results on Nov 04, 2024 Tubacex, S.A. announced that they will report Q3, 2024 results on Nov 04, 2024 Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 4 highly experienced directors. Independent Director Gracia Granados was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
Second quarter 2024 earnings released: EPS: €0.014 (vs €0.083 in 2Q 2023) Second quarter 2024 results: EPS: €0.014 (down from €0.083 in 2Q 2023). Revenue: €213.1m (up 4.6% from 2Q 2023). Net income: €1.66m (down 83% from 2Q 2023). Profit margin: 0.8% (down from 4.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Annuncio • Jul 06
Tubacex, S.A. to Report First Half, 2024 Results on Jul 24, 2024 Tubacex, S.A. announced that they will report first half, 2024 results on Jul 24, 2024 Annuncio • Apr 17
Tubacex, S.A. to Report Q1, 2024 Results on Apr 25, 2024 Tubacex, S.A. announced that they will report Q1, 2024 results on Apr 25, 2024 Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: €0.30 (vs €0.17 in FY 2022) Full year 2023 results: EPS: €0.30 (up from €0.17 in FY 2022). Revenue: €854.4m (up 19% from FY 2022). Net income: €36.3m (up 80% from FY 2022). Profit margin: 4.3% (up from 2.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Annuncio • Feb 07
Tubacex, S.A. to Report Fiscal Year 2023 Results on Feb 29, 2024 Tubacex, S.A. announced that they will report fiscal year 2023 results at 9:00 AM, Romance Standard Time on Feb 29, 2024 New Risk • Nov 02
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Annuncio • Oct 17
Tubacex, S.A. to Report Q3, 2023 Results on Oct 27, 2023 Tubacex, S.A. announced that they will report Q3, 2023 results on Oct 27, 2023 Reported Earnings • Jul 24
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €203.7m (up 3.6% from 2Q 2022). Net income: €10.0m (up 75% from 2Q 2022). Profit margin: 4.9% (up from 2.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 1.2% decline forecast for the Metals and Mining industry in Europe. New Risk • Jun 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.0% average weekly change). Reported Earnings • Apr 26
First quarter 2023 earnings released First quarter 2023 results: Revenue: €236.0m (up 49% from 1Q 2022). Net income: €10.0m (up 194% from 1Q 2022). Profit margin: 4.2% (up from 2.2% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 1.2% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €2.76, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Metals and Mining industry in Europe. Total returns to shareholders of 97% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.26 per share. Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: €0.17 (vs €0.29 loss in FY 2021) Full year 2022 results: EPS: €0.17 (up from €0.29 loss in FY 2021). Revenue: €717.5m (up 109% from FY 2021). Net income: €20.2m (up €56.2m from FY 2021). Profit margin: 2.8% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Jul 22
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €196.6m (up 163% from 2Q 2021). Net income: €5.72m (up €12.6m from 2Q 2021). Profit margin: 2.9% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 35%, compared to a 28% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. 2 highly experienced directors. External Independent Director Jose Gonzalez was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 26
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: €0.26 loss per share (down from €0.20 loss in FY 2020). Revenue: €343.5m (down 29% from FY 2020). Net loss: €35.9m (loss widened 42% from FY 2020). Revenue missed analyst estimates by 9.3%. Over the next year, revenue is forecast to grow 102%, compared to a 12% growth forecast for the mining industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Annuncio • Feb 18
Tubacex, S.A. to Report Q4, 2021 Results on Feb 24, 2022 Tubacex, S.A. announced that they will report Q4, 2021 results on Feb 24, 2022 Annuncio • Dec 24
Hierros Anon SA acquired Tubos Mecánicos, S.A. from Tubacex, S.A. (BME:TUB) for €25 million. Hierros Anon SA acquired Tubos Mecánicos, S.A. from Tubacex, S.A. (BME:TUB) for €25 million on December 23, 2021.
Hierros Anon SA completed the acquisition of Tubos Mecánicos, S.A. from Tubacex, S.A. (BME:TUB) on December 23, 2021. Reported Earnings • Nov 11
Third quarter 2021 earnings released: €0.074 loss per share The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: €86.4m (down 20% from 3Q 2020). Net loss: €9.10m (loss widened 94% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 28
Second quarter 2021 earnings released The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: €74.8m (down 43% from 2Q 2020). Net loss: €6.89m (loss widened 2.7% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 11
New 90-day high: €1.53 The company is up 5.0% from its price of €1.46 on 11 December 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 45% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.64 per share. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue beats expectations Revenue exceeded analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 12%, compared to a 20% growth forecast for the Metals and Mining industry in Germany. Reported Earnings • Mar 04
Full year 2020 earnings released: €0.20 loss per share (vs €0.086 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €482.4m (down 22% from FY 2019). Net loss: €25.3m (down 327% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Nov 19
New 90-day high: €1.31 The company is up 16% from its price of €1.13 on 20 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.69 per share. Is New 90 Day High Low • Oct 30
New 90-day low: €0.96 The company is down 10.0% from its price of €1.07 on 31 July 2020. The German market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.43 per share. Is New 90 Day High Low • Oct 13
New 90-day high: €1.28 The company is up 1.0% from its price of €1.27 on 15 July 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.42 per share. Is New 90 Day High Low • Sep 25
New 90-day low: €1.02 The company is down 22% from its price of €1.30 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.25 per share.