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The producer of steel pipes for oil and gas exploration activities said late on Wednesday its April-to-June earnings before interest, tax, depreciation and amortization (EBITDA) came in at $806 million. The EBITDA margin rose above 28% as higher average selling prices compensated increases in energy and raw material costs.
Looking into the third quarter of the year, the group said sales growth would be more limited due to seasonal factors and lower shipments to pipeline projects.
