Luxembourg-headquartered international steel tube producer Tenaris has announced its financial results for the fourth quarter and the full year of 2021.
Accordingly, in the fourth quarter last year Tenaris’ net sales revenues totaled $2.05 billion, up by 17.2 percent compared to the third quarter and rising by 81.8 percent year on year. The increase in the company’s net sales revenues was driven by the ongoing recovery in OCTG prices in North America, where OCTG inventory levels at distributors had fallen below normal levels. The company’s operating income in the given quarter was $273 million, rising by 18.1 percent quarter on quarter.
In 2021, the company’s net sales revenues totaled $6.52 billion, up by 26.6 percent year on year, while its operating income was $708 million in the given year, compared to an operating loss of $663 million in 2020.
In the fourth quarter last year, Tenaris’ net sales revenues in North America increased by 24 percent quarter on quarter to $1.12 billion, reflecting higher prices and volumes for OCTG throughout the region, while its net revenues in South America rose by 8.5 percent compared to the third quarter to $341 million.
In the full year, the company’s net sales revenues in North America increased by 53.7 percent year on year to $3.24 billion, while its net revenues in South America rose by 59.2 percent year on year to $1.05 billion.
Tenaris’ sales volume of pipes in the fourth quarter totaled 799,000 mt, rising by 7.1 percent compared to the third quarter and up by 51.9 percent year on year, while in 2021 its sales volume of pipes increased by 16.8 percent year on year to 2.80 million mt.