01
Aug
12:30
Tenaris subsidiary SSPC reports jump in H1 revenue
Saudi Steel Pipe Company (SSPC), a subsidiary of Tenaris, reported significant growth in its first-half consolidated financials.
The company reported SAR 987 million ($263.3m) revenue in H1, marking a substantial increase of 87% on-year. Net profit at SAR 148m soared 57.4%, while Ebitda jumped 103% to SAR 210.8m, notes Kallanish.
The firm recorded a negative free cash flow of SAR 15.8m in January-June compared to a positive free cash flow of SAR 83m i…
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