Annual Report 2005 - Tenaris
Annual Report 2005 - Tenaris
Annual Report 2005 - Tenaris
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RESOURCES USED FOR<br />
Property, plant and equipment<br />
Investment<br />
Interest on capital and proposed dividends<br />
Short term transfer – loans<br />
Future results<br />
Decrease in long term liabilities<br />
Total funds used<br />
Increase in net working capital<br />
CHANGES IN WORKING CAPITAL<br />
CURRENT ASSETS<br />
At beginning of year<br />
At end of year<br />
CURRENT LIABILITIES<br />
At beginning of year<br />
At end of year<br />
Increase in working capital<br />
The management's explanatory notes are an integral part of the financial statements<br />
<strong>2005</strong><br />
29,763<br />
–<br />
65,787<br />
13,820<br />
6,702<br />
8,562<br />
124,634<br />
188,192<br />
801,653<br />
729,991<br />
(71,662)<br />
612,513<br />
352,659<br />
(259,854)<br />
188,192<br />
Parent company<br />
2004<br />
42,572<br />
1,505<br />
21,596<br />
17,526<br />
–<br />
5,806<br />
89,005<br />
62,420<br />
646,949<br />
801,653<br />
154,704<br />
520,229<br />
612,513<br />
92,284<br />
62,420<br />
<strong>2005</strong><br />
47,198<br />
–<br />
67,118<br />
13,820<br />
8,236<br />
9,372<br />
145,744<br />
193,835<br />
884,037<br />
769,311<br />
(114,726)<br />
666,604<br />
358,043<br />
(308,561)<br />
193,835<br />
Consolidated<br />
2004<br />
51,778<br />
1,505<br />
22,634<br />
17,526<br />
–<br />
6,432<br />
99,875<br />
42,267<br />
776,850<br />
884,037<br />
107,187<br />
601,684<br />
666,604<br />
64,920<br />
42,267<br />
55. Financial Statements <strong>2005</strong>
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