A key player in the global energy industry Leading global supplier of seamless pipes Revenues by segment (2004) to the oil and gas industry with manufacturing Other Energy operations worldwide 10% 2% Welded 8% Leading supplier…
Leader in OCTG sector World seamless OCTG production Leading consolidator in the seamless pipes 2004 market share industry Japan 9% Tenaris 18% Eastern Europe & Focusing on sales of high-end products direct CIS 20% to end-user…
Core seamless pipe business is global Distribution of production capacity Distribution of sales volume (2004) (3.3 million tons) (2.7 million tons) South America 14% South America North America 27% North America 28% 31% Far…
Constraints to supply growth Point to multi-year period of higher investment in all parts of the industry Since 1985 production has exceeded the discovery of new reserves every year Decline rates for older reservoirs are…
Production will increasingly be in difficult operating environments Production trend towards non-conventional sources 2003 Oil & Gas production 2010 Oil & Gas production Tight Gas Acid Sour 3% 0% LNG Acid Sour Arctic 6% Tight…
Responding to the needs of the industry And enhancing competitive differentiation Investing in global industrial structure to increase capacity in high value products, reduce costs and secure raw material supply Increasing…
Adding value to our sales and winning customer loyalty High-end tubes (% of total sold) Tubes with value added service (% of total sold) % % 40 30 38 36 25 34 20 32 30 15 28 26 10 24 5 22 20 0 2001 2002 2003 2004 2005E…
Setting new industry standards in premium connections Statoils Snhvit project in the Barents Sea is the first field worldwide where all casing and tubing will be dope-free TenarisBlue Dopeless is increasingly seen as the thread and…
At the forefront of industry developments Caspian (Karachaganak, Kashagan, Tengizchevroil) Gas production for LNG and regional grids (Qatar, Egypt, Nigeria, Australia) Saudi Aramco expanding production West African deepwater…
Investing to reduce costs and expand industrial structure USD60m in Matesi reduces exposure to high scrap prices and gives access to competitive Venezuelan iron ore and natural gas USD140m in Dalmine power plant will reduce energy…
Operating results growing Millions of US 2001 2002 2003 2004 1H 2005 Net Sales 3,174 3,219 3,180 4,136 3,197 Seamless 2,496 2,244 2,376 3,273 2,413 Welded 433 580 351 348 416 Energy 113 210 333 418 256 Others 132 185 120 97…
Reinvesting cash flow in growth and dividends Million US 600 500 400 300 200 100 0 2002 2003 2004 Acquisitions Capex Dividends Investor Presentation Tenaris August 2005 16
Liquidity of shares increasing Average daily trading Shares by market Italy Millions of US M exico 8% 2% ADRs 61% 30 25 20 Argentina 29% 15 June 2005 10 It aly M exico 5% ADRs 2% 52% 5 0 2003 2004 1 H 2005…
Summary Global leader in a consolidated industry segment with substantial barriers to entry Well positioned to benefit from extended energy cycle and industry developments Consolidating competitive position by investing in R&D…
Investor Presentation Tenaris August 2005 19
Balance sheet is strong Indebtedness (Million US) Firm value US 9,954 As of June 30, 2005 Net debt 714 649 Cash & Cash Equivalents 451 Financial Debt 1,165 Net Debt 714 Net Debt / Equity 24.1% Balance Sheet (Million US)…
Solid financial indicators FY 2003 FY 2004 1H 2005 Million US % Million US % Million US % EBITDA (1) 602 19% 899 22% 1.000 31% Shareholders Equity 1.841 2.496 2.963 Market Capitalization (2) 3.891 5.795 9.240 Firm Value (FV) (3)…
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