Agenda An extraordinary expansion cycle Followed by a deep global crisis Structural changes ahead Our agenda Investor Presentation Tenaris August 2009 3
Operating and financial results over the expansion cycle Millions of US (except ratios and per 2004 2005 2006 2007 2008 ADS amounts) Net Sales 3,718 6,210 7,728 10,042 12,132 Tubes 3,273 5,128 6,827 8,553 10,115 Projects 280 790…
Margins per ton of our Tubes segment Prices and costs per metric ton of our Tubes segment US per metric ton 4 ,0 0 0 3 ,0 0 0 2 ,0 0 0 1 ,0 0 0 0 1Q03 3Q03 1Q04 3Q04 1Q05 3Q05 1Q06…
Impact of crisis on energy sector 2008 2009E World GDP variation 2.4% (1.2%) Oil demand (MMbbl/d) 86 82 WTI (US/bbl) 100 40 US Henry Hub (US/MMBtu) 8.9 4.0 Rigs 3,315 2,125 United States 1,871 950 Canada 369 200…
Reduced investment will aggravate production decline of oil Global oil decline rates with investments Super Average rates per annum World Giant All other 2003-2007 Giant Total 6.7% 3.4% 6.5% 10.4% Onshore 5.6%* 3.4% 5.6% 8.8%…
and gas U. S. natural gas production breakdown by vintage year 100% 18% 30% 31% 80% 39% 20% 60% 15% 15% 12% 11% 9% 8% 40% 55% 50% 45% 42% 20% 0% Dec-2008 Jun-2009 E Dec-2009 E Jun-2010 E 2006< 2007 2008 New…
We are moving towards a less global environment Investor Presentation Tenaris August 2009 9
Regions show different market dynamics US million 2006 2007 2008 1H2009 North America 1,993 2,922 4,519 1,016 South America 960 1,222 1,354 264 Europe 1,315 1,661 1,706 263 Middle East & Africa 1,896 2,058 1,810 395 Far East &…
Our agenda Support our customers and strengthen our position in local markets Reduce working capital and revise capital expenditure Realign industrial system and adjust our workforce Investor Presentation Tenaris August…
Competitive position: looking beyond the crisis Financial position Financial strength: low net debt, good US million cash flow and higher margins than 4,000 1.0 competitors 3,000 0.8 0.6 2,000 Unique global positioning: local…
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