Dividend increases, but profits fall by Tenaris. Due to the collapse in crude oil prices, the seamless pipe manufacturing company closes 2014 with profits for 1,36 billion dollars, down 13% year on year. THE sales in twelve months they amounted to 10,33 billion (-2% on 2013) and theEbitda it stands at 2,72 billion (-3%).
In the wake of these numbers, at the opening of the session, the Tenaris share on the Stock Exchange lost 1,6%, to 13,25 euros, suffering the worst drop of the Ftse Mib.
However, the Board of Directors has decided to propose to the shareholders' meeting a coupon $0,45 per share, of which $0,15 was already paid as an advance in November. In the previous year, the total dividend was $0,43 per share.
Only in fourth quarter, the company's revenues jump 11% to $2,677 billion from $2,421 billion in the fourth quarter of 2013, while net income slips 40% to $195 billion from $323 billion in the same period a year earlier .
With regard to forecasts for 2015, the drop in oil prices could reduce drilling activity and a decrease in investments will be possible, explains the company, with the demand for the products could suffer a contraction of 30%.
