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INVESTOR PRESENTATION – Tenaris Sa

Tenaris Sa · Oct 16, 2014 · 16 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. INVESTOR PRESENTATION – Tenaris Sa – slide 1
    Investor Presentation New York, October 16, 2014
  2. INVESTOR PRESENTATION – Tenaris Sa – slide 2
    Market environment Oil prices Gas prices [US/bbl] [US/MMbtu] 140 25 120 Brent Spot LNG NE Asia 20 100 85.7 WTI 81.8 80 15 14.6 69.3 WCS NBP ICE UK 60 10 8.7 40 HH 5 3.8 20 0 0 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13…
  3. INVESTOR PRESENTATION – Tenaris Sa – slide 3
    OCTG demand OCTG demand evolution Premium OCTG consumption by application (2013) Others Oil Deep water [Mill Tn] 26% 16% 16.6 17.1 17.0 15.2 3.1 3.3 3.6 13.4 2.7 0.3 0.7 0.9 2.4 0.1 Shallow water 22% 13.2 13.1 Others Gas…
  4. INVESTOR PRESENTATION – Tenaris Sa – slide 4
    Transforming Tenaris Product mix 2012 2017E Premium company Heat Treated / Tubes Sales (%) 67% 85% Differentiation through industrial PRM + Semi-PRM / OCTG Sales (%) 55% 70% excellence, safety, product Shales / OCTG Sales (%) 22%…
  5. INVESTOR PRESENTATION – Tenaris Sa – slide 5
    North America market context [Mill Tn] USA OCTG consumption [Mill Tn] USA OCTG imports 7 7 6 6 5 34% 5 4 4 13% 3 63% 3 1.5 2 2 1.5 1.4 53% 1 31% 1 1.8 1.5 1.4 0 6% 0 2010 2011 2012 2013 2014F 2012 2013 9M 2014 Shale /…
  6. INVESTOR PRESENTATION – Tenaris Sa – slide 6
    North America changing market dynamics Hickman Fayetteville Woodford Barnett Permian Haynesville Tuscaloosa Marine Houston Conroe / McCarty Westwego 500 mile Freeport radius 3.1 Mill tn Bay City 350 mile Mexico Eagle…
  7. INVESTOR PRESENTATION – Tenaris Sa – slide 7
    Mexico decline in energy production [MMbd] [MMcfd] 4,000 10,000 Gas Consumption 3,500 8,000 3,000 Gas Production Oil Production 2,500 6,000 2,000 1,500 4,000 Gas Imports 1,000 2,000 500 Oil Net Exports 0 0 2000 2002 2004…
  8. INVESTOR PRESENTATION – Tenaris Sa – slide 8
    Energy Reform Round Zero Reserves Prospective (2P) Resources Fiscal reform savings for Pemex Max.US7 Bn / year Migration of service contracts US35 Bn (10 years) Round Zero (Farm Outs) US16.4 Bn (4 years) Round One Contracts US34.1…
  9. INVESTOR PRESENTATION – Tenaris Sa – slide 9
    Argentina energy crossroads Gas Consumption Energy exports and imports [MMm3/d] [US Million] 180 12,000 LNG Liquid imports 160 LNG Bolivia Bolivia Liquids imports 10,000 140 Domestic Gas Domestic Gas 120 8,000 100 6,000 80 60…
  10. INVESTOR PRESENTATION – Tenaris Sa – slide 10
    Argentina - Vaca Muerta Argentina drilling activity 1,800 [ Wells drilled] 1,600 1,400 1,200 1,000 Shales 800 Others 600 400 200 0 2010 2011 2012 2013 2014F Plays properties Vaca Muerta Eagle Ford Wells drilled in…
  11. INVESTOR PRESENTATION – Tenaris Sa – slide 11
    EH serving premium markets Manufacturing Centers R&D Centers Service Centers Commercial Offices Investor presentation Tenaris October 16, 2014 12
  12. INVESTOR PRESENTATION – Tenaris Sa – slide 12
    Middle East premium consumption growing Middle East OCTG Consumption Saudi Arabia: [Th Tn] net OCTG inventory variations 51% 1,600 52% 250 PJ [Th Tn] 1,400 48% 200 43% 150 1,200 44% 100 1,000 40% 50 800 36% 0 600 32% 2011 2012…
  13. INVESTOR PRESENTATION – Tenaris Sa – slide 13
    EH offshore market [ Rigs] EH contracted deepwater rigs New products under more stringent 160 testing standards 140 120 Dopeless technology and pipe 100 management 80 Technical services 60 40 20 0 2011 2012 2013 2014…
  14. INVESTOR PRESENTATION – Tenaris Sa – slide 14
    European operations repositioned Dalmine product mix 100% 80% 54% 71% 60% 40% Product line repositioning 20% 0% Productivity gains 2009 2014F R&D specialization Low End High End Dalmine productivity [US Million] [US…
  15. INVESTOR PRESENTATION – Tenaris Sa – slide 15
    Sustainable financial performance Free Cash Flow EBITDA margin and FCF/earnings [US Million] 1,800 120% [LTM FCF/Earnings %] TS 1,600 100% 1,400 HAL 1,200 80% BHI SLB 1,000 60% 800 600 40% 400 VK 200 20% 0 [LTM EBITDA %]…
  16. INVESTOR PRESENTATION – Tenaris Sa – slide 16
    Investor presentation Tenaris October 16, 2014 17

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