Company: TNRSF
Filing Date: 2025-02-20
Form Type: 6-K
Source: 0001171843-25-000973
Chunk: 7

Company: TENARIS SA
Filing Date: 2025-02-20
Form: 6-K
Chunk 7
---
 $0.8 billion in the fourth quarter of 2023. During the fourth
quarter of 2024 cash generated by operating activities includes a net working capital increase of $37 million.

With capital expenditures of $182 million, our free cash flow amounted
to $310 million during the quarter. Following a dividend payment of $299 million and share buybacks of $454 million in the quarter, our
net cash position amounted to $3.6 billion at December 31, 2024.

Analysis of 2024 Annual Results

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

| Net sales ($ million) |     | 12M 2024 |        |     |    |   |     | 12M 2023 |        |     |    |   |     | Increase/(Decrease) |     |    |
| Tubes                 |     |          | 11,907 |     | 95 | % |     |          | 14,185 |     | 95 | % |     |                     | (16 | %) |
| Others                |     |          |    617 |     |  5 | % |     |          |    684 |     |  5 | % |     |                     | (10 | %) |
| Total                 |     |          | 12,524 |     |    |   |     |          | 14,869 |     |    |   |     |                     | (16 | %) |

Tubes

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

| Tubes Sales volume (thousand metric tons) |     | 12M 2024 |       |     | 12M 2023 |       |     | Increase/(Decrease) |     |    |
| Seamless                                  |     |          | 3,077 |     |          | 3,189 |     |                     | (4  | %) |
| Welded                                    |     |          |   852 |     |          |   953 |     |                     | (11 | %) |
| Total                                     |     |          | 3,928 |     |          | 4,141 |     |                     | (5  | %) |

The following table indicates, for our Tubes business segment, net sales by geographic region,
operating income and operating income as a percentage of