Tenaris S.A. (TS) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to Q4 and full year 2024 Tenatis Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Giovanni Sardagna, Investor Relations Officer. Please go ahead. Thank you, Gigi, and welcome to Tenaris' 2024 Fourth Quarter and Annual Results Conference Call. Before we start, I would like to remind you that we will be discussing forward-looking information in the call and that our actual results may vary from those expressed or implied during this call. With me on the call today are Paolo Rocca, our Chairman and CEO, Alicia Mondolo, our Chief Financial Officer, Gabriele Podkucka, our Chief Operating Officer, and Luca Zanotti, President of our U.S. Operations. Before passing over the call to Paolo for his opening remarks, I would like to briefly comment on quarterly results. During the fourth quarter of 2024, sales reached $2.8 billion, down 17% compared with those of the corresponding quarter of the previous year, and 2% sequentially, mainly driven by lower volumes and lower average selling prices, as price declines in North America were partially offset by a favorable product mix. Our EBDA for the quarter was up 6% sequentially to $726 million, and our EBDA margin increased to 25.5, mainly reflecting the partial reversal of a provision for ongoing litigation relating to the acquisition o...