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TUBOS REUNIDOS (TRG) investor relations material
TUBOS REUNIDOS H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for H1 2025 rose 19% year-over-year to €205.8 million, driven by a strong backlog from late 2024 despite adverse market conditions and exchange rates.
Operating income was negative at €10.8 million, and net income attributable to the parent company was a loss of €28.4 million, reflecting the impact of US tariffs and reduced demand.
EBITDA was negative at €0.7 million, down from €5.3 million in H1 2024, with tariffs estimated to have a €15 million negative impact on EBITDA.
Measures implemented include cost containment, operational efficiency, and temporary redundancies at the TRPT plant.
Financial highlights
Revenue: €205.8 million (+19.1% YoY); EBITDA: €-0.7 million (down from €5.3 million YoY); Operating income: €-10.8 million (vs. €-2.8 million YoY).
Net income: €-28.4 million (vs. €40.4 million YoY); EBITDA margin: -0.3% (down from 3.1% YoY).
Cash flow from operations: €4.8 million (down 67.4% YoY); Net financial debt: €243.7 million (up 4% from end-2024).
CapEx: €4 million (down 36.3% YoY); Consolidated net equity: €184.6 million (down 8.3% from end-2024).
Outlook and guidance
Second half of 2025 expected to remain uncertain due to ongoing US tariffs and geopolitical conflicts.
Hopes for a US-EU agreement to reduce tariffs and stabilize the market by August.
Strategic focus on alternative markets (Canada, India, Saudi Arabia) and strengthening European presence.
Priorities include cost and investment control to protect liquidity and prepare for potential demand recovery.
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