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Tenaris Announces 2021 Second Quarter Results


Provided by
GlobeNewswire
Aug 4, 2021 8:49 PM UTC
The financial and operational information contained in this press release is based on unaudited consolidated condensed interim financial statements presented in U.S. dollars and prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standard Board and adopted by the European Union, or IFRS. Additionally, this press release includes non-IFRS alternative performance measures i.e., EBITDA, Free Cash Flow and Net cash / debt. See exhibit I for more details on these alternative performance measures.
LUXEMBOURG, Aug. 04, 2021 (GLOBE NEWSWIRE) Tenaris S.A. (NYSE and Mexico: TS and MTA Italy: TEN) (“Tenaris”) today announced its results for the quarter ended June 30, 2021 in comparison with its results for the quarter ended June 30, 2020. ....

United States , Giovanni Sardagna , Asia Pacific , Luxembourg Stock Exchange , International Financial Reporting Standards , European Union , International Accounting Standard Board , Free Cash Flow , South America , Latin America , Eastern Hemisphere , Middle East , North American , Bay City , Sault Ste Marie , North America , Winter Storm , Luxembourg Stock , Eastern Time , Condensed Interim Statement , ஒன்றுபட்டது மாநிலங்களில் , ஆசியா பெஸிஃபிக் , லக்ஸம்பர்க் ஸ்டாக் பரிமாற்றம் , சர்வதேச நிதி புகாரளித்தல் தரநிலைகள் , ஐரோப்பிய தொழிற்சங்கம் , சர்வதேச கணக்குவைப்பு முறை தரநிலை பலகை ,

Tenaris Announces 2021 First Quarter Results | Comunicados | Edición USA


 
EBITDA is defined as operating income (loss) plus depreciation, amortization and impairment charges / (reversals). EBITDA includes severance charges of $5 million in 1Q 2021, 37 million in 4Q 2020 and $23 million in 1Q 2020. If these charges were not included EBITDA would have been $201 million (17.0%) in 1Q 2021, $229 million (20.3%) in 4Q 2020 and $303 million (17.2%) in 1Q 2020.
Our sales in the first quarter increased 5% sequentially as a recovery in sales in North America was tempered by lower sales in the Eastern Hemisphere. EBITDA, which included $23 million of additional costs associated to the Winter Storm Uri, increased 2% sequentially reflecting continued improvements in our industrial performance. Net income benefited from a strong contribution from our investment in Ternium. ....

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