06
Aug
14:30
TenarisSaudiSteelPipes reduces sales but narrows loss
Welded pipemaker TenarisSaudiSteelPipes (SSP) saw revenue inch down 3.9% on-quarter in the second quarter to SAR 88.5 million ($24m). However, net loss narrowed to SAR 8.08m versus a loss of SAR 8.48m in Q1, as a result of enhanced product mix and improved margins, Kallanish notes.
SSP achieved positive Ebitda of SAR 6.37m in Q2, including non-recurring charges, compared to Ebitda of SAR 5.13m in Q1.
In addition, SSP recorded a positive free cash flow o…
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Anonymous
Very good overview of the weekly steel market.
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