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Significant increase in sales in 2011

SIGNIFICANT INCREASE IN SALES IN 2011, ESPECIALLY IN EUROPE AND NORTH AMERICA

Along 2011, TUBACEX has registered 486.60 million euros of consolidated sales, which represents an increase of 34.5% against the 2010 figure.

Sales have grown in Europe, North America and Asia, while decreasing in "the rest of the world".
 
In Europe sales reached a total of 330.23 million euros, representing 67.9% of total sales, which confirms the Group’s commercial consolidation in this market. Revenues from this area have risen by 36.5% in comparison with 2010, in which they amounted to 241.92 million euros.

In the U.S.A. and Canada sales grew by 54.8%, going from 58.55 million euros in 2010 to 90.64 million euros in 2011, which account for 18.6% of the year's consolidated revenue.

In turn, sales in Asia reached 48.45 million euros, a figure that represents 9.9% of the Group’s consolidated total sales, showing a growth of 16.1% over the figures of 2010.

Lastly, in other markets, the turnover has dropped by 11.7% reaching 17.28 million euros, mainly due to the lower sales in the Brazilian market, which slowed down during 2011 after the change of government, reactivating at the end of the year. Sales in "the rest of the world" account for 3.6% of the Group's total sales in 2010.

Press relations

Nagore Larrea

nlarrea@tubacex.com