Amurrio, Spain-based group Tubos Reunidos has announced that in 2012 its core business, i.e., seamless steel pipe manufacturing, generated a net profit of €25.4 million and an EBITDA of €59.6 million. These figures respectively indicated 15.6 percent and 14.6 percent increases, both year on year. Meanwhile, Tubos Reunidos' consolidated net profit amounted to just €10.6 million due to the reorganization of the company's distribution business.

In a press release, Tubos Reunidos highlighted that the positive financial results were achieved thanks to a strategy focused on special products (representing 72 percent of sales) and geographical diversification. In 2012, 87 percent of Tubos Reunidos' sales revenues were generated outside of Spain and 58 percent in non-EU countries, 31 percent in North America and 26 percent in emerging markets. The company's development strategy enabled an eight percent year-on-year increase in average selling prices.

In 2012, Tubos Reunidos' invested €40 million, representing more than 25 percent of the total investment figure forecast in the company's industrial plan for 2012-2016 (€150 million). Tubos Reunidos' main goals for the future are the development of new products and new markets and increasing the competitiveness of the group.