Company: TNRSF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001171843-25-004951
Chunk: 23

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 23
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net income declined 4% year on year, earnings per share increased 4% following the reduction of outstanding shares due to the share buyback.

Cash flow provided by operating activities amounted to $1.5 billion during the first half of
2025, including a reduction in working capital of $250 million. After capital expenditures of $309 million, our free cash flow amounted
to $1.2 billion. Following a dividend payment of $600 million and share buybacks for $474 million in the semester, our net cash position
amounted to $3.7 billion at the end of June 2025.

The following table shows our net sales by business segment for the periods indicated below:

|        | Millions of U.S. dollars | 2025 | For the six-month period ended June 30, |     |     |   |     | 2024 |       |     |     |   |     |     | Increase / Decrease |    |
|:-------|:-------------------------|:-----|----------------------------------------:|:----|----:|:--|:----|:-----|------:|:----|----:|:--|:----|:----|:--------------------|:---|
| Tubes  |                          |      |                                   5,686 |     |  95 | % |     |      | 6,421 |     |  95 | % |     |     | (11                 | %) |
| Others |                          |      |                                     322 |     |   5 | % |     |      |   342 |     |   5 | % |     |     | (6                  | %) |
| Total  |                          |      |                                   6,008 |     | 100 | % |     |      | 6,763 |     | 100 | % |     |     | (11                 | %) |

Tubes

The following table indicates for our Tubes business segment, sales volumes of seamless and
welded pipes for the periods indicated below:

|          | Thousands of tons | 2025 | For the six-month period ended June 30, |     | 2024 |       |     |     | Increase / Decrease |    |
|:---------|:------------------|:-----|----------------------------------------:|:----|:-----|------:|:----|:----|--------------------:|:---|
| Seamless |                   |      |