Announcement • May 30
Tubos Reunidos, S.A., Annual General Meeting, Jun 29, 2026 Tubos Reunidos, S.A., Annual General Meeting, Jun 29, 2026. New Risk • Jan 05
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 8.0% 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: Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (€58.0m market cap, or US$68.0m). Board Change • Dec 30
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. 5 experienced directors. 4 highly experienced directors. Independent Non-Executive Chairman Josu Moreira was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 19
Tubos Reunidos, S.A., Annual General Meeting, Jun 19, 2025 Tubos Reunidos, S.A., Annual General Meeting, Jun 19, 2025. Location: museo guggenheim, avenida abandoibarra 2, bilbao., Spain New Risk • Oct 29
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €92.3m (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risk Market cap is less than US$100m (€92.3m market cap, or US$99.8m). Reported Earnings • Oct 02
First half 2024 earnings released: EPS: €0.23 (vs €0.31 in 1H 2023) First half 2024 results: EPS: €0.23 (down from €0.31 in 1H 2023). Revenue: €172.7m (down 48% from 1H 2023). Net income: €40.6m (down 25% from 1H 2023). Profit margin: 24% (up from 16% in 1H 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. New Risk • Sep 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Announcement • Apr 28
Tubos Reunidos, S.A., Annual General Meeting, May 30, 2024 Tubos Reunidos, S.A., Annual General Meeting, May 30, 2024, at 12:00 Central European Standard Time. Location: Bilbao, at the Auditorium of the Guggenheim Museum Avenida Abandoibarra 2 Bilbao Spain Agenda: To Review and approval, where appropriate, of the individual Annual Accounts and Management Report of Tubos Reunidos S.A., as well as the consolidated Annual Accounts and Management Report pertaining to the financial period ended on 31\ December 2023; to Review and approval, where appropriate, of the Report on Non-Financial Information of the Company and its consolidated Group pertaining to the financial period ended on 31 December 2023; to Review and approval, where appropriate, of the corporate management and activities carried out by the Board of Directors during financial year 2023; to Review and approval, where appropriate, of the proposal for allocation of profits for financial year 2023; and to consider other business matters. Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: €0.32 (vs €0.25 in FY 2022) Full year 2023 results: EPS: €0.32 (up from €0.25 in FY 2022). Revenue: €541.9m (up 5.1% from FY 2022). Net income: €56.3m (up 30% from FY 2022). Profit margin: 10% (up from 8.4% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 02
First half 2023 earnings released: EPS: €0.31 (vs €0.011 in 1H 2022) First half 2023 results: EPS: €0.31 (up from €0.011 in 1H 2022). Revenue: €332.6m (up 36% from 1H 2022). Net income: €54.1m (up €52.2m from 1H 2022). Profit margin: 16% (up from 0.8% in 1H 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 83% per year, which means it is significantly lagging earnings growth. Announcement • May 27
Tubos Reunidos, S.A., Annual General Meeting, Jun 29, 2023 Tubos Reunidos, S.A., Annual General Meeting, Jun 29, 2023, at 12:00 Central European Standard Time. Location: the Palacio Euskalduna (Abandoibarra Etorbidea 4) room 0D Bilbao Spain Agenda: To Review and approval, where appropriate, of the individual Annual Accounts and Management Report of Tubos Reunidos S.A., as well as the consolidated Annual Accounts and Management Report pertaining to the financial period ended on 31 December 2022; to Review and approval, where appropriate, of the Report on non-financial information of the Company and its consolidated Group pertaining to the financial period ended on 31 December 2022; to Review and approval, where appropriate, of the corporate management and activities carried out by the Board of Directors during financial year 2022; to Review and approval, where appropriate, of the proposal for allocation of profits/losses for financial year 2022; to consider the Appointment and re-election of Directors; and to consider other matters if any. Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: €0.25 (vs €0.37 loss in FY 2021) Full year 2022 results: EPS: €0.25 (up from €0.37 loss in FY 2021). Revenue: €513.7m (up 110% from FY 2021). Net income: €43.5m (up €108.2m from FY 2021). Profit margin: 8.5% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Teresa Alvarez was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 26
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up €45.3m from 1H 2021). Profit margin: (up from net loss in 1H 2021). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Jun 24
Tubos Reunidos, S.A., Annual General Meeting, Jun 29, 2022 Tubos Reunidos, S.A., Annual General Meeting, Jun 29, 2022, at 12:00 Central European Standard Time. Location: room 0D, Palacio Euskalduna Bilbao Spain Agenda: To review and approval, where appropriate, of the individual Annual Accounts and Management Report of Tubos Reunidos S.A., as well as the consolidated Annual Accounts and Management Report pertaining to the financial period ended on 31 December 2021; to review and approval, where appropriate, of the Report on non-financial information of the Company and its consolidated Group pertaining to the financial period ended on 31 December 2021; to review and approval, where appropriate, of the corporate management and activities carried out by the Board of Directors during financial year 2021; to review and approval, where appropriate, of the proposal for allocation of profits/losses for financial year 2021; to consider appointment and re-election of Directors. Following the report by the Appointments and Remuneration Committee, reelection of Mr. Cristóbal Valdés Guinea (Domanial Director) as member of the Board; and to transact other matters. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Teresa Alvarez was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: €0.37 loss per share (up from €0.56 loss in FY 2020). Revenue: €243.0m (flat on FY 2020). Net loss: €64.7m (loss narrowed 34% from FY 2020). Revenue missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 10
New 90-day high: €0.26 The company is up 14% from its price of €0.23 on 10 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 48% over the same period. Reported Earnings • Mar 01
Full year 2020 earnings released: €0.58 loss per share (vs €0.24 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: €208.6m (down 27% from FY 2019). Net loss: €101.3m (loss widened 144% from FY 2019). Is New 90 Day High Low • Nov 05
New 90-day high: €0.23 The company is up 99% from its price of €0.11 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 3.0% over the same period. Is New 90 Day High Low • Oct 13
New 90-day high: €0.22 The company is up 86% from its price of €0.12 on 15 July 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 5.0% over the same period. 
