We face times marked by a deep crisis in the Oil & Gas sector. But in spite of this we have made a commitment to change to evolve in our market with a renewed vision, focused on our value addition as a global solutions provider.

This is a turning point towards a new stage. We are aware the results of measures we have implemented have started to materialize and be reflected in our profit and loss account.

Our commitment to value-added products has given us satisfaction throughout this financial year. We have secured the highest order in our history for the supply of OCTG tubes in CRA in the Middle East, which reflects good prospects for the gas sector in this region. In addition, we are getting successful results in the power generation sector.

As well as this apparent recovery of some markets, we have also found others with high potential for our business. In this regard, Iran represents a major opportunity, becoming one of the main global players in our key sectors and where we trust we can achieve commercial agreements during this financial year. To do so, we would like to reposition ourselves in the distribution market, opening stores to be added to the global network of Tubacex Service Solutions, our own master distributor. Iran will be one of the key focal points of our products in stock to facilitate availability and offer a service-based value proposal.

We will follow the path we have set in the belief that we can increase our transformation rate once market conditions recover.