Company: TNRSF
Filing Date: 2025-05-01
Form Type: 6-K
Source: 0001171843-25-002694
Chunk: 9

Company: TENARIS SA
Filing Date: 2025-05-01
Form: 6-K
Chunk 9
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cost considered for management view compared to IFRS cost calculated at historical cost on a FIFO basis, and other timing differences.
For more information see note II.C “Segment information” in the Company’s audited Consolidated Financial Statements
for the year ended December 31, 2024.

The main differences in net income under the IFRS and management views arise from the impact of functional currencies on financial result, deferred income taxes as well as the equity in earnings of non-consolidated companies.

| 9 |

Geographical information

|                                      |     | Three-month period ended March 31, |      2025 |     |     |      2024 |
|:-------------------------------------|:----|:-----------------------------------|----------:|:----|:----|----------:|
|                                      |     | -Unaudited                         |           |     |     |           |
| Net sales                            |     |                                    |           |     |     |           |
| North America                        |     |                                    | 1,279,605 |     |     | 1,620,616 |
| South America                        |     |                                    |   637,553 |     |     |   696,874 |
| Europe                               |     |                                    |   234,944 |     |     |   281,300 |
| Asia Pacific, Middle East and Africa |     |                                    |   770,110 |     |     |   842,754 |
| Total                                |     |                                    | 2,922,212 |     |     | 3,441,544 |

Allocation of net sales to geographical information is based on the final
destination of the products sold.

There are no revenues from external customers attributable to the Company’s
country of incorporation (Luxembourg). The principal countries from which the Company derives its revenues are USA, Argentina, Canada,
Saudi Arabia, Brazil and United Arab Emirates.

No single customer comprised more than 10% of Tenaris’s net sales
in the three-month period ended March 31, 2025 and 2024. Through several financing transactions in the fourth quarter of 2024 and the
first quarter of 2025, Tenaris reduced its overall credit exposure to one of its largest customers, Petróleos Mexicanos (“Pemex”),
to 7% as of March 31, 2025. For more information, see Note 7.

Revenue is mainly recognized at a point in time to direct customers, when