Tenaris released FY results. Sales reached US$7.1bn (-31%), EBITDA US$1,255m (-54%), operating income US$195m (-90%) and net income US$-74m vs US$1,181m. Net cash at the end of FY15 amounted to US$1.8bn (vs US$2.1bn in Q3 15 and US$1.3bn a year before). A dividend of US$0.45 will be proposed. In terms of outlook, the group sees another 20% drop in the global OCTG market for FY16 in the absence of a significant improvement in market conditions and further price cuts. It still aims at maintaini
25 Feb 2016
Weak FY15 results and no light in sight
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Weak FY15 results and no light in sight
- Published:
25 Feb 2016 -
Author:
Fabrice Farigoule -
Pages:
2
Tenaris released FY results. Sales reached US$7.1bn (-31%), EBITDA US$1,255m (-54%), operating income US$195m (-90%) and net income US$-74m vs US$1,181m. Net cash at the end of FY15 amounted to US$1.8bn (vs US$2.1bn in Q3 15 and US$1.3bn a year before). A dividend of US$0.45 will be proposed. In terms of outlook, the group sees another 20% drop in the global OCTG market for FY16 in the absence of a significant improvement in market conditions and further price cuts. It still aims at maintaini