Highlights 10. <strong>Tenaris</strong>Confab
PIPE DIVISION (IN TONS) Export sales Domestic sales Total sales volume SAW - submerged arc welding production ERW - electrical resistence welding production Total production EQUIPMENT DIVISION (IN MAN HOURS) Level of activity HEADCOUNT (NUMBER OF EMPLOYEES) CONSOLIDATED FINANCIAL INFORMATION (*) Net operating revenues Net earnings Net earnings per share in R$ Common nominative shares Preference shares Total shares Current assets Long term receivables Permanent assets Total assets Current liabilities Long term liabilities Minority interests Shareholders' equity Total liabilities and shareholders' equity Dividends / Interest on owner's equity (*) Amounts expressed in thousands of reais, except earning per share and shares (**) Interest on own capital already deducted from Shareholders' Equity (***) To be ratified in Shareholders' Assembly in April 2006 107,369 320,548 427,917 279,871 103,288 383,159 604,371 2,086 1,783,105 277,013 0.8517 127,794,168 197,453,829 325,247,997 769,311 39,172 318,050 1,126,533 <strong>2005</strong> 2004 358,043 10,746 20,117 637,627 (**) 1,126,533 67,118 (***) 154,221 92,385 246,606 260,701 46,210 306,911 574,135 2,050 887,626 17,519 0.0539 127,794,168 197,453,829 325,247,997 884,037 31,077 298,480 1,213,594 666,604 106,841 13,748 426,401 1,213,594 21,596 11. <strong>Annual</strong> <strong>Report</strong> <strong>2005</strong>