Earnings release
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Tenaris Giovanni Sardagna Tenaris 1-888-300-5432 www.tenaris.com Press Release Tenaris Announces 2021 Second Quarter Results The financial and operational information contained in this press release is based on unaudited consolidated condensed interim financial statements presented in U.S. dollars and prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standard Board and adopted by the European Union , or IFRS . Additionally , this press release includes non - IFRS alternative performance measures i.e. , EBITDA , Free Cash Flow and Net cash / debt . See exhibit I for more details on these alternative performance measures . Luxembourg , August 4 , 2021. - Tenaris S.A. ( NYSE and Mexico : TS and MTA Italy : TEN ) ( “ Tenaris ” ) today announced its results for the quarter ended June 30 , 2021 in comparison with its results for the quarter ended June 30 , 2020 . Summary of 2021 Second Quarter Results ( Comparison with first quarter of 2021 and second quarter of 2020 ) 2Q 2021 1Q 2021 2Q 2020 Net sales ( $ million ) 1,529 1,182 29 % 1,241 23 % Operating income ( loss ) ( $ million ) 152 52 194 % ( 91 ) Net income ( loss ) ( $ million ) 290 101 188 % ( 50 ) Shareholders ' net income ( loss ) ( $ million ) 294 106 176 % ( 48 ) Earnings ( losses ) per ADS ( $ ) 0.50 0.18 176 % ( 0.08 ) Earnings ( losses ) per share ( $ ) 0.25 0.09 176 % ( 0.04 ) EBITDA ( $ million ) 301 196 54 % 59 414 % EBITDA margin ( % of net sales ) 19.7 % 16.6 % 4.7 % Our second quarter sales were up 29 % sequentially , led by a recovery in North and South America but with sales increasing in all reporting regions . EBITDA , which included an extraordinary gain of $ 33 million from the recognition of fiscal credits in Brazil , continues to recover supported by higher shipments and an increase in average selling prices that compensated higher raw material costs . Operating income is increasing strongly while our net income continues to be boosted by the contribution from our investments in Ternium and Usiminas .