Tenaris' Boost in Sales Driven by North and South America

The working capital during the quarter has increased by $276 million.

SEATTLE (Scrap Monster): Tenaris S.A. announced financial and operational results for the quarter and nine months ended September 30, 2021.

The sales in the Middle East continued to be affected by destocking, whereas those in Europe were impacted by seasonal factors. Despite this, the sales during the quarter surged higher by 15% over the sequential quarter to $1,754 million, mainly led by North and South American regions. The company reported operating income and net income of $231 million and $326 million respectively. The EBIDA stood at $379 million, whereas the EBITDA margin rose to 21.6% during Q3 this year.

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The working capital during the quarter has increased by $276 million. The cash provided by operating activities totalled $53 million. The capital expenditures stood at $74 million. The free cash flow was slightly negative, with net cash position registering marginal decline to $830 million as at September 30, 2021.

The net sales totalled $4,464 million during the first nine months of the current year. Tenaris reported net income, EBITDA and EBITDA margin of $717 million, $877 million and 19.6% respectively during this period.

Tenaris anticipates that sales will show a further increase in Q4, led by North America. The Q4 EBITDA margin is expected to remain close to the current level.

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