• The company has secured new orders worth more than €80 million in umbilical tubes for one of the world’s leading subsea operators.

• The orders will be supplied for offshore projects in Angola, Guyana and the North Sea, and the orders will be executed from Tubacex’s umbilical tubes competence centre in Ternitz, Lower Austria, together with the Group’s industrial capabilities in Spain.

• This new order adds to those announced in February in the same business, bringing cumulative year-to-date order intake in umbilical tubes to more than €100 million in financial year 2026.

Bilbao, 22 June 2026. Tubacex has announced the award of new orders worth more than €80 million in umbilical tubes for a global subsea technology provider.

These new orders reinforce Tubacex’s position in one of the highest value-added niches in the subsea market, where reliability, traceability, industrial consistency and metallurgical expertise are determining factors. In February, the company had already announced another package of orders in this same business, bringing cumulative year-to-date order intake in umbilical tubes to more than €100 million in 2026.

Umbilical tubes are critical components in subsea systems. Integrated into the umbilical cables that connect surface facilities with subsea infrastructure, they enable the transport of hydraulic fluids, chemical products and control signals required for the operation of wells and equipment installed on the seabed. These applications require materials capable of withstanding greater depths, high pressures, fatigue, corrosion and extreme operating conditions over long service lives.

The new order volume comes in a context of positive activity in key offshore regions such as the North Sea and the Gulf of Mexico, where energy security, strategic autonomy and the need to expand capacity are driving new investments. This is compounded by favourable dynamics in other relevant geographies, such as Brazil, where the development of offshore projects continues to sustain demand for high-specification subsea solutions.

In this environment, tieback projects are gaining relevance as a way to increase capacity and optimise existing infrastructure. These solutions make it possible to connect new wells or field extensions to facilities already in operation, replace ageing lines and expand capacity without the need to develop entirely new platforms, enabling more efficient execution from a technical, economic and operational standpoint.

“The evolution of order intake in umbilical tubes confirms the strength of our position in highly demanding subsea applications. These are projects in which material quality, industrial reliability and technical support for the customer are determining factors, which enables us to respond with guarantees to the demand for advanced tubular solutions for complex offshore environments,” said Josu Imaz, Chief Executive Officer of Tubacex.

This leadership position in the business is further supported by Tubacex being confirmed for another year as one of the Hidden Champions identified by Orkestra, the Basque Institute of Competitiveness. This condition recognises companies that lead international market niches or highly specialised sectors, with a strong industrial, B2B, innovative and international component, while also being rooted in the territory.

The diversification of projects, the company’s specialisation in advanced materials and its focus on high value-added applications reinforce Tubacex’s prospects in this business for 2026 and for the coming years.