Tenaris expects a stable level of sales in the current year

Seamless and welded pipe maker Tenaris expects its sales and margins to remain healthy but gradually decline through the end of 2023. It is stated in the company’s report for the first half of 2023.

“While sales in the Eastern Hemisphere are expected to consolidate above Q1 levels, sales in the Americas will be impacted by lower prices and a slight reduction in US drilling activity,” the statement informs.

According to the company’s report, in January-March 2023, its net sales reached a record level, amounting to $4.14 million, the growth is 75% y/y. In particular, Tenaris notes that compared to the fourth quarter of 2022, there was an increase in sales of OCTG pipe and line pipe for offshore projects worldwide and a peak supply for a large pipeline project in Argentina.

The net profit of the company in January-March 2023 increased by 124% y/y – up to $1.2 billion. EBITDA (earnings before interest, taxes, depreciation and amortization) in the first quarter of 2023 increased by 135% year-on-year, amounting to $1.48 billion.

As GMK Center reported earlier, in 2022 Tenaris received the profit in the amount of $2.55 billion compared to $1.1 billion in 2021. In 12 months of 2022, sales of seamless pipes increased by 25% y/y – up to 3.14 million tons, welded – by 34%, up to 387 thousand. It was predicted that the global demand for OCTG in 2023 will reach the highest level since 2014, and work on pipelines to support the development of oil and gas fields is also intensifying, particularly in Argentina and the Middle East.

  • Companies

Tenaris has begun construction of its second wind farm in Argentina

Tenaris has announced the start of construction of its second wind farm in Argentina, La…

Saturday June 28, 2025
  • Companies

Metinvest has created protective armor for Patriot air defense systems

As part of the Steel Front initiative, Metinvest Group has manufactured and installed special protective…

Saturday June 28, 2025
  • Companies

Arvedi Group raises €900 million to expand production and decarbonize

Italian steel company Arvedi Group has raised €900 million in financing to implement a large-scale…

Friday June 27, 2025
  • Global Market

Domestic demand for steel in China continues to fall

Domestic demand for steel in China, according to market participants' estimates, continued to fall in…

Friday June 27, 2025
  • Industry

Construction works performed in Ukraine in January-April fell by 13% y/y

The index of construction work performed in Ukraine in January-April 2025 decreased by 13% compared…

Friday June 27, 2025
  • Global Market

Emissions in China’s steel industry sector rose by 17.9% y/y in May

In May 2025, Chinese steel enterprises belonging to the CISA industry association increased their total…

Friday June 27, 2025