Tenaris SWOT & PESTLE Analysis
COMPANY PROFILE -Tenaris
Business Sector :Oilfield services
Operating Geography :Luxembourg, Europe, Global
About Tenaris :
Tenaris S.A. is a leading supplier of steel tubes and related services for the world’s energy industry and for other industrial applications. Established in 2001, the company has its headquarters located in the Grand-Dutch of Luxembourg. The company mainly deals in manufacturing facilities, service yards and commercial offices that are located all over the globe. Customers of the company includes some of the world’s leading oil and gas companies as well as engineering companies engaged in constructing oil and gas gathering, transportation, processing and power generation facilities. Tenaris provides its services in over 30 countries through several manufacturing facilities, service centres and R&D centres. The company made a number of strategic acquisitions and mergers in 2019. These include the controlling stake acquired in Saudi Steel Pipe, a joint venture with Severstal and the acquisition of IPSCO Tubulars. The company employs 23000 personnel as of early 2020.The mission statement of the company reads, “Our mission is to deliver value to our customers through product and process innovation, manufacturing excellence, supply chain integration, technical assistance and customer service, aiming to reduce risk and costs, increase flexibility and improve time-to-market. Wherever we operate, we are committed to safety and minimizing our impact on the environment, providing opportunities for our people, and contributing to the sustainable development of our communities”.
Tenaris Revenue :
$7.29 billion – FY ended Dec 2018 (y-o-y growth negative 4.82%)
$7.66 billion – FY ended Dec 2018 (y-o-y growth 27.72%)
$5.28 billion – FY ended Dec 2017
Competitive Analysis of Tenaris
| 1. Global leader in steel pipes 2. Strong expertise in the oil and gas infrastructure sector 3. Differentiated quality tubular products 4. Strategically located production facilities 5. Integrated solution and innovative services 6. Investment in research and development 7. Strong financial condition | 1. Sensitive production cost 2. Increase in the cost of raw materials |
| 1. Expanding the range of products. 2. Building up collaborations and alliances worldwide. | 1. Climate changes affecting the required raw material and leading to shift of energy demand 2. International Competition. 3. Unfair trade of steel pipes. |
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Detailed SWOT Analysis of Tenaris
Strength
1. Global leader in steel pipes: Tenaris is a strong contender within the energy industry and has emerged as one of the world’s biggest suppliers of steel pipes for use within the industry. The company boasts of a capability to produce 6.9 million tons of steel pipes annually with operations spaced out between its manufacturing facilities located in 18 countries. The manufacturing units include 25 welded tube mills, 13 seamless rolling mills, 53 heat treatment lines, 103 premium threading lines and 4 electric steel units. The company has a strong service and distribution network spread out across 30 countries. in 2018, the company the majority of its sales (48%) occur within North America, followed by the Middle East and Africa region at 20%. South America closely follows by being responsible for 19% of the company’s overall sales.
2. Strong expertise in the oil and gas infrastructure sector: The company has established its presence in the industry with an operating history of more than 60 years, which translates into solid industrial know how. Over the years Tenaris has acquired and developed subsidiaries in more than 30 countries ensuring its global presence. The company has succeeded in fully consolidating it’s US and Canadian presence and is now focusing on improving service quality and customer support within the region. It has also expanded its operations by now offering its services in UAE, Guyana, Indonesia and Brazil. The unique customer integration strategy used by the company has helped to set it apart from its competitors. It has also served the company but helping in cost reduction and a simplified operating process. The company has developed a global network of pipe finishing, distribution and service facilities with a direct presence in most major oil and gas markets. In recent times, the company has forayed into taking up major gas development projects around the world. The gas production project undertaken in Vaca Muerra shale in Argentina is only one amongst many. The company has similar projects, including LNG expansions, on going in Qatar, India, Mozambique, Australia and Indonesia. It is also a strong supplier for several Middle East NOCs. A global network of research and development centres has also served the company well. The combination of a comprehensive knowledge of metallurgy and material behaviour with extensive field experience has allowed the company to work in increasingly challenging environments. The offshore projects taken up by the company, like that at Liza, are able to clearly highlight the competency of the company.
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Weakness
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Opportunity
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Threat
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Tenaris Analysis Report
1. Tenaris Annual Report 2019 - https://ir.tenaris.com/static-files/0a6a5cb3-b3be-4871-b713-0a285bb3254a
2. Tenaris Annual Report 2018 - https://ir.tenaris.com/static-files/5bb58984-b0b9-4cd8-bcb9-195410de81ad
3. Tenaris Company Profile - https://www.reuters.com/companies/TS#:~:text=Tenaris%20S.A.%20is%20a%20holding,operates%20through%20Tubes%20business%20segment
4. Tenaris Sustainability - https://www.tenaris.com/en/sustainability/
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Tenaris SWOT and PESTLE analysis has been conducted and reviewed by senior analysts from Barakaat Consulting.
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