Company: TNRSF
Filing Date: 2025-02-21
Form Type: 6-K
Source: 0001171843-25-000987
Chunk: 74

Company: TENARIS SA
Filing Date: 2025-02-21
Form: 6-K
Chunk 74
---
 2,811,706 |   |
| Total equity                                                          |     |          | 4,728,980 |   |     |      | 5,369,186 |   |
| Non-controlling interests                                             |     |          |   452,481 |   |     |      |   556,418 |   |
| Revenues                                                              |     |          | 4,800,787 |   |     |      | 5,531,985 |   |
| Gross profit                                                          |     |          |   308,043 |   |     |      |   357,845 |   |
| Net (loss) / income for the year attributable to shareholders' equity |     |          |   (27,084 | ) |     |      |   278,402 |   |
| Other comprehensive income                                            |     |          |    31,564 |   |     |      |   (72,062 | ) |
| Total comprehensive income                                            |     |          |     4,480 |   |     |      |   206,340 |   |

c) Techgen

Techgen is a Mexican company that operates a natural gas-fired combined
cycle electric power plant in the Pesquería area of the State of Nuevo León, Mexico, with a power capacity of 900 megawatts.
As of December 31, 2024, Tenaris held 22% of Techgen’s share capital, and its affiliates, Ternium and Tecpetrol (both controlled
by San Faustin), beneficially owned 48% and 30% respectively. As of December 31, 2024, the carrying value of Tenaris’s ownership
stake in Techgen was approximately $59.8 million.

Techgen entered into certain transportation capacity agreements and an agreement for the purchase of clean energy certificates. As of December 31, 2024, Tenaris’s exposure under these agreements amounted to $ 36.3million and $ 16.6million respectively.

Techgen’s sponsors granted certain subordinated loans to Techgen.
As of December 31, 2024, the aggregate outstanding principal amount under these subordinated loans was $306.5
million, of which $67.4 million correspond to Tenaris’s contribution.

On February 13, 2019, Techgen entered into a $640 million syndicated loan
agreement with several banks to refinance an existing loan, resulting in the