|FORM 6 - K
|----------



|SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549
|--------------------------------------------------------





|Report of Foreign Private
Issuer  Pursuant to Rule 13a - 16 or 15d - 16 of  the Securities Exchange Act of 1934
|---------------------------------------------------------------------------------------------------------------



|As of May 9, 2003
|-----------------



|TENARIS, S.A.(Translation of Registrants name into English)
|------------------------------------------------------------





|TENARIS, S.A.23 Avenue Monterey 
      2086 Luxembourg 
      (Address of principal executive offices)
|------------------------------------------------------------------------------------------------------



|
|



|Indicate by check mark whether the registrant files or will
      file annual reports under cover 
      Form 20-F or 40-F.
|---------------------------------------------------------------------------------------------------------------------------



|Form 20-F [X]      Form 40-F [   ]
|----------------------------------



|Indicate by check
mark whether the registrant by furnishing the  information contained in this Form is also
thereby furnishing the information to  the Commission pursuant to Rule 12G3-2(b) under
the Securities Exchange Act of  1934.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Yes [   ]      No
      [X]
|---------------------------



|If Yes is marked, indicate below the file number
      assigned to the registrant in connection 
      with Rule 12g3-2(b): 82- .
|-----------------------------------------------------------------------------------------------------------------------------------



| |  | 
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|The attached material is being furnished to the
Securities and Exchange  Commission pursuant to Rule 13a-16 and Form 6-K under the
Securities Exchange  Act of 1934, as amended. This report contains Tenariss press
release announcing  its First Quarter 2003 Results
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|SIGNATURE
|---------



|Pursuant to the requirements of the Securities
Exchange Act of 1934, the  Registrant has duly caused this report to be signed on its
behalf by the  undersigned, thereunto duly authorized.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Date: May 9, 2003
|-----------------



|Tenaris, S.A.
|-------------



|By: /s/ Cecilia Bilesio                   
|------------------------------------------
|Cecilia Bilesio 
      Corporate Secretary



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|Tenaris Announces Results for the First Quarter of 2003
|-------------------------------------------------------



|The financial and operational information
contained in this press release is based on unaudited consolidated condensed interim
financial statements prepared in accordance with international accounting standards
(IAS) and presented in U.S. dollars.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Luxembourg, May 7, 2003. - Tenaris S.A.(NYSE,
Buenos Aires and Mexico: TS and  MTA Italy: TEN) (Tenaris) today announces
its results for the fiscal quarter  ended March 31, 2003 with comparison to its results
for the fiscal quarter ended  March 31, 2002.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  |  | Net
sales of US$789.6 million, down 2.5% from US$810.2 million
| | - |  | --------------------------------------------------------------

| |  |  | Operating
income of US$98.6 million, down 23.5% from US$128.9 million
| | - |  | ---------------------------------------------------------------------

| |  |  | Net
income of US$45.5 million, up from a net loss of US$35.5 million
| | - |  | --------------------------------------------------------------------

| |  |  | Net
earnings per share of US$0.039 (US$0.39 per ADS)
| | - |  | ----------------------------------------------------



|Market Background
|-----------------



|Despite increased demand for seamless pipes in
Tenariss local markets such as  Mexico, Canada and Argentina, overall demand in the
first quarter was affected  by particular situations in the Middle East and Venezuela.
The strike action  which brought the oil and gas sector in Venezuela to a halt has ended
and  military action has materialized and, effectively ended, in Iraq. Efforts are  now
being made to restore oil and gas production in both countries to their  former levels.
The heightened uncertainty surrounding the future level of oil  and gas prices has
dissipated to a certain extent and oil and gas prices remain  at levels which should
result in sustained overall demand for seamless pipes for  the rest of the year though it
continues to remain affected by the weak  performance of the industrial sector. Demand
for Tenariss welded pipes is  weaker than the high level recorded in 2002 following
the completion of  deliveries to major gas pipeline projects in Ecuador and Peru but
there is  stronger demand from the local Brazilian market.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Tenariss results during the quarter were
also affected by an increase in the  cost of raw materials and energy at its Mexican and
Italian operations following  the increase in the price of internationally traded ferrous
scrap and metallic  iron materials, a rise in Mexican gas prices and a rise in Italian
gas and  electricity prices exacerbated by a rise in the value of the Euro against the
U.S. dollar, 22% higher in the first quarter of 2003 than in the corresponding  quarter
of 2002. During the quarter, there were significant movements in the  currencies of
countries where Tenaris has its principal operations as the  Argentine peso and the Euro
appreciated by 11% and 7% respectively, and the  Mexican peso depreciated by 6%, against
the U.S. dollar, comparing the quarterly  average for the first quarter of 2003 against
the quarterly average for the  fourth quarter of 2002.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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|Sales Volumes and Revenues
|--------------------------

|(metric tons)        |         |  |         |  |                    
|-------------------- | ------- |  | ------- |  | -------------------
|                    
|Sales volume         | Q1 2003 |  | Q1 2002 |  | Increase/(Decrease)
|                    
|South America        | 67,000  |  | 80,000  |  | (16%)              
|North America        | 139,000 |  | 98,000  |  | 42%                
|Europe               | 156,000 |  | 165,000 |  | (5%)               
|Middle East & Africa | 86,000  |  | 148,000 |  | (42%)              
|Far East & Oceania   | 121,000 |  | 102,000 |  | 19%                
|Total seamless pipes | 570,000 |  | 593,000 |  | (4%)               
|Welded pipes         | 108,000 |  | 140,000 |  | (23%)              
|Total steel pipes    | 678,000 |  | 733,000 |  | (8%)               

|Sales volumes of seamless pipes decreased by 4%
to 570,000 tons in the first  quarter of 2003 from 593,000 tons in the same period of
2002. This decrease in  sales volume primarily reflects the effects of the build up to
and start of  military action against Iraq, the national strike centered on the
state-owned  oil company in Venezuela, and the consequent effects on sales to the Middle
East  and to Venezuela. On the other hand, sales in Tenariss local markets of
Mexico,  Canada and Argentina and to China in the Far East were significantly higher than
in the same period of last year.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Sales volumes of welded pipes decreased by 23%
to 108,000 tons in the first  quarter of 2003 from 140,000 tons in the same period of
2002. An increase in  sales to the local Brazilian market was not sufficient to offset
the effect of  the termination of deliveries to major gas pipeline projects in Ecuador
and  Peru.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(US$ million)  |         |  |         |  |                    
|-------------- | ------- |  | ------- |  | -------------------
|              
|Net sales      | Q1 2003 |  | Q1 2002 |  | Increase/(Decrease)
|              
|Seamless pipes | 565.6   |  | 567.3   |  | (0%)               
|Welded pipes   | 98.5    |  | 145.3   |  | (32%)              
|Energy         | 72.1    |  | 47.7    |  | 51%                
|Others         | 53.4    |  | 49.9    |  | 7%                 
|Total          | 789.6   |  | 810.2   |  | (3%)               

|Net sales in the quarter ended March 31, 2003
totaled US$789.6 million, compared  to US$810.2 million in the corresponding quarter of
2002. Net sales of seamless  pipes remained stable, in spite of the 4% decline in sales
volumes, thanks to  higher average selling prices, resulting from higher prices in Europe
following  the appreciation of the Euro and an increased proportion of high value sales
in  Mexico and Argentina in the total sales mix. Net sales of welded pipes decreased  32%
as sales volumes and average selling prices decreased with the decline in  prices
reflecting changes in product mix. Included within net sales of welded  pipes are sales
of metal structures made by Tenariss Brazilian welded pipe  subsidiary which
amounted to US$15.0 million in the first quarter of 2003 and  US$26.5 million in the
first quarter of 2002. Net sales of electricity and  natural gas by Dalmine Energie
increased by 51% due to the continued expansion  of the business and the effect of the
appreciation of the Euro against the U.S.  dollar. Net sales of other goods and services
includes sales of other steel  products by Tenaris Global Services, amounting to US$36.6
million in the first  quarter of 2003 and US$41.1 million in the first quarter of 2002.
Such sales  reflect commitments entered into prior to the transfer of Tenaris Global
Services to Tenaris at the end of 2002.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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---





|Operating Income
|----------------



|Operating income for the quarter ended March 31,
2003 fell 23.5% to US$98.6  million (12.5% of net sales) compared to US$128.9 million
(15.9% of net sales)  for the corresponding quarter in the previous year. Operating
income plus  depreciation and amortization fell to US$146.4 million (18.5% of net sales)
compared to US$171.8 million (21.2% of net sales).
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|The gross margin (net sales less cost of sales)
on seamless pipe sales declined  to 33.7% in the first quarter of 2003 compared to 36.5%
in the first quarter of  2002 due principally to increased raw material and energy costs
at Tenariss  Italian and Mexican operations, a reduction in tax reimbursements on
exports  from Argentina and increased costs at Tenariss Italian operations due to
the  appreciation of the Euro against the U.S. dollar which, in particular, affected
margins on sales from Italy to outside of Europe. Scrap and metallic iron raw  material
costs rose by approximately 30% and energy costs by approximately 15%  at Tenariss
Italian and Mexican operations as measured in Euros and U.S.  dollars respectively.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|The gross margin on welded pipe sales declined
to 32.8% in the first quarter of  2003 compared to 34.3% in the first quarter of 2002 due
to lower margins on  sales of metal structures by Tenariss Brazilian welded pipe
subsidiary included  within this business segment. The gross margin on energy sales
declined to 1.1%  in the first quarter of 2003 compared to 5.9% in the first quarter of
2002 due  to increased competition resulting from the maturing of the energy trading
business in Italy. The gross margin on other sales rose from 14.2% in the first  quarter
of 2003 compared to 12.2% in the first quarter of 2002.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Selling, general and administrative expenses, or
SG&A, remained stable at  US$133.0 million, or 16.8% of net sales in the quarter
ended March 31, 2003,  compared to US$135.2 million, or 16.7% of net sales, during the
corresponding  quarter of 2002. A significant reduction in selling expenses reflecting
the  incorporation of Tenaris Global Services into Tenaris at the end of 2002 and a
higher proportion of sales made in local markets was offset by an increase in  general
and administration expenses due principally to the impact of new export  taxes in
Argentina and higher U.S. dollar costs in Italy due to the appreciation  of the Euro.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Net Income
|----------



|Net income for the quarter ended March 31, 2003
of US$45.5 million, or US$0.039  per share (US$0.39 per ADS) compares to a net loss of
US$35.5 million for the  corresponding quarter of 2002. In spite of lower operating
income, Tenariss net  result for the quarter was a substantial improvement over its
result in the same  quarter of 2002 due principally to a lower income tax provision of
US$17.9  million in the first quarter of 2003 compared to an income tax provision of
US$129.1 million in the same period of 2002. The substantial depreciation of the
Argentine peso during the first quarter of 2002 and the appreciation of the same
currency during the first quarter of 2003 is the principal factor behind the  substantial
change in income tax provision between the respective quarters.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Tenaris recorded net financial expenses of
US$22.7 million in the first quarter  of 2003, compared to net financial expenses of
US$19.3 million in the same  period of 2002.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  | 
| |  | 



---





|Tenariss share in the results of
associated companies generated a loss of  US$9.0 million, compared to a loss of US$6.4
million in the first quarter of  2002. These losses were mainly attributable to losses
associated with Tenariss  investment in Amazonia and in the first quarter of 2003
the loss of US$9.0  million was due mainly to the application, in accordance with IAS, of
a deferred  tax charge.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Cash Flow and Liquidity
|-----------------------



|Tenariss cash and cash equivalents
increased by US$85.2 million (including cash  provided by business acquisitions) to
US$390.1 million during the quarter ended  March 31, 2003 and net financial debt was
reduced to US$324.6 million. In  addition, Tenaris had investments of US$135.8 million in
trust funds established  to support its Argentine and Brazilian operations.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Net cash provided by operations was US$158.1
million which included a reduction  in working capital of US$42.3 million. Net cash used
in investment activities  was US$69.2 million. This includes investments of US$43.6
million in property,  plant and equipment and US$23.1 million used in the acquisition of
a modern 160  MW power plant in Argentina.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Recent Events
|-------------



|On April 24, 2003, Tenaris acquired the
remaining minority interests in its  Argentine subsidiary, Siderca S.A.I.C., at a cost of
US$18.9 million and Siderca  was subsequently delisted from the Buenos Aires stock
exchange.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|The board of directors, in its meeting today,
decided to propose the date of  June 23, 2003 as the date for the payment of the proposed
dividend of US$115.0  million, or US$0.10 per share (US$0.99 per ADS). This dividend
proposal is  subject to approval by the shareholders at the General Meeting to be held on
May  28, 2003 in Luxembourg.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|Some of the statements contained in this press
release are forward-looking statements. Forward-looking statements are based
on managements current views and assumptions and involve known and unknown risks
that could cause actual results, performance or events to differ materially from those
expressed or implied by those statements. These risks include but are not limited to
risks arising from uncertainties as to future oil prices and their impact on investment
programs by oil companies.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|With manufacturing facilities in Argentina,
Brazil, Canada, Italy, Japan, Mexico and Venezuela and a network of customer service
centers present in over 20 countries worldwide, Tenaris is a leading global manufacturer
of seamless steel pipes and provider of pipe handling, stocking and distribution
services to the oil and gas, energy and mechanical industries as well as a leading
regional supplier of welded steel pipes for gas pipelines in South America.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  | 
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---





|Consolidated Interim Income Statement
|-------------------------------------

|                                                                                                      |                                          
|----------------------------------------------------------------------------------------------------- | -----------------------------------------
|                                                                                                      | Three-month period 
      ended March 31,
|                                                                                                      |                                          
|(All amounts in US$ thousands)                                                                        | 2003                                     
|                                                                                                      |                                          
|Net sales                                                                                             | 789,579                                  
|Cost of sales                                                                                         | (558,534)                                
|                                                                                                      |                                          
|Gross profit                                                                                          | 231,045                                  
|Selling, general and administrative expenses                                                          | (132,998)                                
|Other operating income and expenses, net                                                              | 521                                      
|                                                                                                      |                                          
|Operating income                                                                                      | 98,568                                   
|Financial income (expenses), net                                                                      | (22,691)                                 
|                                                                                                      |                                          
|Income before income tax, equity in losses
      of 
      associated companies and minority interest | 75,877                                   
|Equity in losses of associated companies                                                              | (9,034)                                  
|                                                                                                      |                                          
|Income before income tax and minority interest                                                        | 66,843                                   
|Income tax                                                                                            | (17,927)                                 
|                                                                                                      |                                          
|Net income before minority interest                                                                   | 48,916                                   
|Minority interest (1)                                                                                 | (3,404)                                  
|                                                                                                      |                                          
|Net income (loss) before other minority interest                                                      | 45,512                                   
|Other minority interest (2)                                                                           |                                         
|                                                                                                      |                                          
|Net income (loss) for the period                                                                      | 45,512                                   

|(1) |  | Minority interest excluding minority interest
      attributable to participations in consolidated subsidiaries acquired in
      the exchange offer concluded on December 13, 2002
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) |  | Minority interest attributable to participations
      in consolidated subsidiaries acquired in the exchange offer concluded on
      December 13, 2002
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------



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---





|Consolidated Interim Balance Sheet
|----------------------------------

|                               |                                                      |                |           |                  
|------------------------------ | ---------------------------------------------------- | -------------- | --------- | -----------------
|                               |                                                      | March 31, 2003 |           | December 31, 2002
|                               |                                                      |                |           |                  
|(All amounts in US$ thousands) |                                                      |                |           |                  
|                               |                                                      |                |           |                  
|Assets                         |                                                      |                |           |                  
|                               |                                                      |                |           |                  
|Non-current assets             |                                                      |                |           |                  
|                               | Property, plant and equipment, net                   | 1,935,579      |           |                  
|                               | Intangible assets, net                               | 32,939         |           |                  
|                               | Investments in associated companies                  | 5,267          |           |                  
|                               | Other investments                                    | 158,434        |           |                  
|                               | Deferred tax assets                                  | 53,140         |           |                  
|                               | Receivables                                          | 25,096         |           | 2,210,455        
|                               |                                                      |                |           |                  
|Current assets                 |                                                      |                |           |                  
|                               | Inventories                                          | 675,108        |           |                  
|                               | Receivables                                          | 140,764        |           |                  
|                               | Trade receivables                                    | 685,082        |           |                  
|                               | Cash and cash equivalents                            | 390,051        |           | 1,891,005        
|                               |                                                      |                |           |                  
|                              
|Total assets                   |                                                      |                | 4,101,460 |                  
|                              
|                               |                                                      |                |           |                  
|Equity and Liabilities         |                                                      |                |           |                  
|Shareholders equity           |                                                      |                | 1,722,972 |                  
|                               |                                                      |                |           |                  
|Minority interest              |                                                      |                | 189,388   |                  
|                               |                                                      |                |           |                  
|Non-current liabilities        |                                                      |                |           |                  
|                               | Borrowings                                           | 317,391        |           |                  
|                               | Deferred tax liabilities                             | 296,198        |           |                  
|                               | Effect of currency translation 
         on tax base | 100,664        |           |                  
|                               | Employee liabilities                                 | 117,185        |           |                  
|                               | Provisions                                           | 35,665         |           |                  
|                               | Trade payables                                       | 19,252         |           | 886,355          
|                               |                                                      |                |           |                  
|Current liabilities            |                                                      |                |           |                  
|                               | Borrowings                                           | 397,282        |           |                  
|                               | Current tax liabilities                              | 204,512        |           |                  
|                               | Other liabilities                                    | 74,199         |           |                  
|                               | Provisions                                           | 83,025         |           |                  
|                               | Customers advances                                   | 41,489         |           |                  
|                               | Trade payables                                       | 502,238        |           | 1,302,745        
|                               |                                                      |                |           |                  
|                              
|                               | Total liabilities                                    |                |           | 2,189,100        
|                              
|                               |                                                      |                |           |                  
|                              
|                               | Total equity and liabilities                         |                |           | 4,101,460        
|                              





| |  | 
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---





|Consolidated Interim Cash Flow Statement
|----------------------------------------

|                                                                                 |                                                
|-------------------------------------------------------------------------------- | -----------------------------------------------
|                                                                                 | Three-month period ended
      
      March 31,
|                                                                                 |                                                
|(All amounts in US$ thousands)                                                   | 2003                                           
|                                                                                 |                                                
|Net income (loss) for the period                                                 | 45,512                                         
|Depreciation and amortization                                                    | 47,867                                         
|Tax accruals less payments                                                       | 4,338                                          
|Equity in losses of associated companies                                         | 9,034                                          
|Interest accruals less payments                                                  | 2,426                                          
|Net provisions                                                                   | 3,203                                          
|Minority interest                                                                | 3,404                                          
|Change in working capital                                                        | 42,280                                         
|                                                                                 |                                                
|Net cash provided by operations                                                  | 158,064                                        
|                                                                                 |                                                
|Capital expenditure                                                              | (43,611)                                       
|Acquisitions of subsidiaries                                                     | (26,232)                                       
|Proceeds from disposition of property, plant and 
        equipment              | 658                                            
|Changes in trust fund                                                            |                                               
|                                                                                 |                                                
|Net cash used in investment activities                                           | (69,185)                                       
|                                                                                 |                                                
|Proceeds from borrowings                                                         | 84,493                                         
|Repayments of borrowings                                                         | (94,374)                                       
|                                                                                 |                                                
|Net cash (used in) provided by financing activities                              | (9,881)                                        
|                                                                                 |                                                
|Increase in cash and cash equivalents                                            | 78,998                                         
|                                                                                 |                                                
|Cash at January 1,                                                               | 304,536                                        
|Effect of exchange rate changes on cash and cash 
        equivalents            | 298                                            
|Increase in cash and cash equivalents provided by 
        business acquisitions | 6,219                                          
|Increase                                                                         | 78,998                                         
|                                                                                
|Cash at March 31,                                                                | 390,051                                        
|                                                                                



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