Company: TNRSF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001171843-25-004943
Chunk: 11

Company: TENARIS SA
Filing Date: 2025-08-01
Form: 6-K
Chunk 11
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 no material differences between the IFRS and management views
in total revenues.

The differences between operating income under the IFRS and management
views are mainly related to the cost of goods sold, reflecting the effect of raw materials prices variations on the valuation of the replacement
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.

Following the integration of coating activities into its Tubes segment, the Company represented comparative year-to-date segment information amounts accordingly.

Geographical information

|                                      |     | Six-month period ended June 30, |      2025 |     |     |      2024 |
|:-------------------------------------|:----|:--------------------------------|----------:|:----|:----|----------:|
|                                      |     | -Unaudited                      |           |     |     |           |
| Net sales                            |     |                                 |           |     |     |           |
| North America                        |     |                                 | 2,725,465 |     |     | 3,091,084 |
| South America                        |     |                                 | 1,255,208 |     |     | 1,404,070 |
| Europe                               |     |                                 |   473,972 |     |     |   589,273 |
| Asia Pacific, Middle East and Africa |     |                                 | 1,553,239 |     |     | 1,678,794 |
| Total                                |     |                                 | 6,007,884 |     |     | 6,763,221 |

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

| 9 |

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 six-month period ended June 30, 2025, and 2024.

Revenue is mainly