Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 72

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 72
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 12,050,457 |   |     |      | 12,148,560 |
| Current assets                                                        |     |         | 11,078,090 |   |     |      | 12,030,544 |
| Total assets                                                          |     |         | 23,128,547 |   |     |      | 24,179,104 |
| Non-current liabilities                                               |     |         |  3,421,020 |   |     |      |  3,566,643 |
| Current liabilities                                                   |     |         |  3,575,958 |   |     |      |  3,800,602 |
| Total liabilities                                                     |     |         |  6,996,978 |   |     |      |  7,367,245 |
| Total equity                                                          |     |         | 16,131,569 |   |     |      | 16,811,859 |
| Non-controlling interests                                             |     |         |  4,163,383 |   |     |      |  4,393,264 |
| Revenues                                                              |     |         | 17,649,060 |   |     |      | 17,610,092 |
| Gross profit                                                          |     |         |  2,888,836 |   |     |      |  3,559,355 |
| Net (loss) / income for the year attributable to shareholders' equity |     |         |    (53,672 | ) |     |      |    676,043 |
| Other comprehensive income                                            |     |         |    211,817 |   |     |      |    465,885 |
| Total comprehensive income                                            |     |         |    158,145 |   |     |      |  1,141,928 |

b) Usiminas

Usiminas is a Brazilian producer of high-quality flat steel products used
in the energy, automotive and other industries.

At December 31, 2024, the closing price of the Usiminas’ ordinary
and preferred shares, as quoted on the B3 - Brasil Bolsa Balcão S.A, was BRL5.32 ($0.86)
and BRL5.32 ($0.86), respectively, giving Tenaris’s ownership
stake a market value of approximately $41.9 million. As of that date, the carrying value of