Leading indicators 26. <strong>Tenaris</strong>Confab
amounts expressed in thousands of reais, except earnings per share STATEMENT OF RESULTS - CONSOLIDATED Net operating revenues Operating costs and expenses Operating income before financial and other income Financial income Equity equivalence in subsidiaries and associated companies Shares, statutory contributions and non-operating results Income tax and social contribution Net profit for the year Net profit per share in R$ Total shares EBITDA (profit before interest, taxes, depreciation and amortization) FINANCIAL POSITION Working Capital Total Assets Long Term Debt Shareholders' Equity <strong>2005</strong> 2004 2003 1,783,105 887,626 994,756 (1,346,818) (822,908) (948,879) 436,287 64,718 45,877 (9,283) (24,165) (10,940) 777 (6,146) (15,409) (23,193) (4,734) (5,242) (127,575) (12,154) 6,221 277,013 17,519 20,507 0.8517 325,247,997 450,515 411,268 1,126,533 64,251 637,627 0.0539 325,247,997 99,225 217,433 1,213,594 78,059 426,401 0.1892 108,415,999 72,018 175,166 1,118,811 50,417 430,478 1,461,974 (1,217,391) 244,583 (32,364) 36,680 (21,146) (57,015) 170,738 1.5748 108,415,999 257,115 2002 2001 250,486 1,148,856 105,016 461,978 710,374 (600,957) 109,417 (10,855) 3,832 (10,327) (19,584) 72,483 0.6686 108,415,999 123,543 199,496 753,210 59,637 340,815 27. <strong>Annual</strong> <strong>Report</strong> <strong>2005</strong>