Tenaris S.A. (TS) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.217 Good afternoon, ladies and gentlemen, and welcome to the Q3 2025 conference call 00:00:05.217 -- 00:00:07.861 of Raiffeisen Bank International. 00:00:07.861 -- 00:00:12.226 Today's conference is being recorded. At this time, I'd like to turn the conference over 00:00:12.226 -- 00:00:15.670 to Mr. Johann Strobel, Chief Executive Officer. 00:00:15.670 -- 00:00:18.051 Please go ahead. 00:00:19.935 -- 00:00:22.799 Thank you very much. Good afternoon, ladies and gentlemen. 00:00:22.799 -- 00:00:26.153 Thank you for being with us this afternoon. 00:00:26.153 -- 00:00:31.639 We are pleased to report a good set of results this morning and in particular loans 00:00:31.639 -- 00:00:36.905 growth across the region, which continue to pace in the third quarter. 00:00:36.905 -- 00:00:41.190 We can report the consolidated profit of 1 billion and 27 00:00:41.190 -- 00:00:46.677 million euros for the first nine months of the year, excluding Russia, 00:00:46.677 -- 00:00:53.062 equal to a return on equity of 10% in line with our guidance for 2025. 00:00:53.440 -- 00:00:58.484 When we think about the future of RBI and exclude both Russia and Poland, 00:00:58.484 -- 00:01:03.349 we have achieved a 13.5 ROE in the first nine months. 00:01:03.349 -- 00:01:08.774 We can confirm our ambition to earn around 13% on this basis in 2025 00:01:08.774 -- 00:01:11.236 and beyond. 00:01:11.236 -- 00:01:14.859 We will discuss this again on the outlook slide. 00:01:14.859 -- 00:01:19.023 Finally, our city... This meeting is being transcribed. 00:01:19.023 -- 00:01:21.823 ...stable at 15.7%. 00:01:22.432 -- 00:01:27.579 On slide five, we can report 3% loan growth in the first nine months of this 00:01:27.579 -- 00:01:32.645 year. And the positive momentum that we hav...